Economy

This is driven by the “vibrant” external demand and stabilised COVID-19 situation in Hong Kong.

The strict COVID-19 measures are expected to dampen the city’s economic growth.

Chief Executive Carrie Lam said the city is an “ideal gateway” for businesses.

The city’s GDP expanded by 7.5% in the second quarter from 7.9% previously.

The overall SME leading business index rose to 46.6, the highest since Q3 2018.

Its total assets stood at $4.5t as of end-June.

The US has been critical of the law which, it deemed, had undermined Hong Kong’s autonomy.

But at a slower pace compared to 1% in May.

This is thanks to a low base year and growing external demand.

Around 17% expect the situation to improve against 11% that expect otherwise.

The regulatory body also plans to keep a watchful eye on IPO-related malpractices.

The US-China tensions made HK particularly attractive to Chinese companies, report says.

The number of new local companies in the city is 11% higher than the last six months.

The diffusion index on business receipts inched up to 45.1 in June.

With a score of 96%, Hong Kong is the closest out of 50 areas to pre-pandemic normal.

The global number of millionaires could go over 84 million in the next five years.