Hong Kong to achieve new economic breakthroughs: FS Chan

The city is restoring from pandemic and keep attracting talents.

Hong Kong has more opportunities than challenges ahead as the city experiences economic upgrading and transformation, Financial Secretary Paul Chan said in a press conference.

The city will achieve new economic breakthroughs and develop new growth drivers in the face of a volatile external environment, as it is making efforts to reach out to the world and correct misperceptions, Chan said during the unveiling of a business report on 30 July 2025.

Real GDP growth in Q1 2025 was 3.1%, with the Q2 maintaining that momentum, Chan noted.

Comparing a similar report in 2021, the new report outlines that Hong Kong's economy is picking up, with social stability having been restored and the city having emerged from the pandemic.

“Because of COVID-19, a lot of overseas travelers didn’t come to Hong Kong over the past few years, while misperception about Hong Kong exists in the western world because of geopolitics," Chan was quoted saying. He also highlighted the government’s efforts in attracting enterprises, investment and talent during the event.

From January 2023 to the first six months of 2025, Invest Hong Kong reportedly assisted over 1,300 overseas and Mainland companies to set up or expand their business in Hong Kong, bringing in direct investment of more than $160b.

As of June 2025, nearly 500,000 talent scheme applications were received whilst 330,000 were approved.