Hong Kong GDP predicted to pick up to 3.7% in 2014

Thanks to China's sustained demand.

According to BBVA Research, it expects GDP growth in Hong Kong to pick up in 2014 to 3.7% from 3.1% last year on sustained demand from China and an improving global economy.

Here's more:

CY Leung, Hong Kong’s Chief Executive, today delivered his second Policy Address since taking office in July 2012 (link to address). The Address focused on longer term issues of tackling poverty and housing challenges. Mr. Leung announced plans to raise the supply of private housing units by 40% in the next five years. Also, a low-income working family allowance has been proposed.

On the economic growth front, a number of policy initiatives have been advanced, including facilitating the growth of Hong Kong’s financial services industry and RMB business. Also, the initiatives aim to strengthen economic ties with Mainland and other regional trading partners (such as an FTA with ASEAN countries).