Economy
Basic food products cost almost a quarter of Hong Kongers’ minimum wage
Employees earn a minimum of $7,500 net monthly.
Basic food products cost almost a quarter of Hong Kongers’ minimum wage
Employees earn a minimum of $7,500 net monthly.
Inflation up 2% in December 2022
Overall CPI rose by 1.8% in the previous month.
Businesses ‘slightly’ more optimistic about Q1
This could improve with the lifting of social distancing measures.
Unemployment rate falls to 3.5%
By the end of last year, the total unemployed was 126,000.
After China reopening, Hong Kong sees economy will pick up growth
Financial Secretary Paul Chan said the city is quickly returning to normalcy.
Export and import volumes drop double digits in November 2022
Prices, on the other hand, increased for both exports and imports.
Hong Kong fiscal deficit may reach $109b for FY2022/23: PwC
Spending will remain high due to the pandemic and geopolitical tensions.
Business situation improved in December 2022: gov’t
The diffusion index on business receipts for SMEs went up 46.1.
Government to provide Hong Kong fresh impetus
This is to boost the city’s economic growth, Financial Secretary Paul Chan said.
Tung Chung Line Extension gets greenlight
It is expected to be completed in 2029.
Hong Kong, China to review adjustment in number of travellers at BCPs
The total daily number of travellers allowed to Mainland is 50,000.
Hong Kong’s gross national income inches up by 0.3% in Q3
The city’s GDP meanwhile dipped by 0.2%.
Exports to grow 5% in 2023: HKTDC
In 2022, exports declined by 6%.
Hong Kong may be hit by longer fiscal deficits
An analyst sees weaker growth and high government spending for longer.
SMEs’ business receipts diffusion index declines to 44 in November
It is expected to increase to 48.4 in December.
Gov’t to US: Withdraw erroneous ‘tariff measures as early as possible’
The global trade body said the tariffs on steel imports violated trade measures.
Global recovery boosts increases in inward, outward DI
Total inward and outward direct investments went up by 17% and 12.1%, respectively.
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