Economy
Hong Kong, Zhongshan to reinforce cooperation
They will cooperate in various areas such as finance and trade, amongst others.
GDP growth eases to 1.5% in 2Q23
In 1Q23, the economy grew by 2.7%.
HK and Indonesia ink 15 deals on trading, commerce, and finance
The memoranda were signed during Chief Executive John Lee’s Jakarta visit.
Exports value dips by 11.4% YoY to $337.4b in June
The pace of decline, however, has moderated.
Singapore, Hong Kong reinforces ties with 7 new MOUs signed
Hong Kong Chief Executive John Lee visited Singapore as part of a week-long ASEAN trip.
Consumer prices rise 1.9% YoY in June
The rate of increase in June was slower than May.
Unemployment rate dips to 2.9%
There were 113,600 unemployed people from April to June.
Gov’t logs $71.9b deficit
The figure was only for the first two months of the current financial year.
Average wage rate up 3.2% in March
Ongoing economic recovery is expected to drive labour demand.
Hong Kong ranks 7th in list of world’s most competitive economies
It dropped by two places from last year.
Hong Kong’s GNI rises by 6.8% in Q1
Its gross national income grew to $756.1b.
Industrial production up nearly 4% YoY in Q1
The IP for sewerage, waste management, and remediation activities grew 0.3%.
SME’s business outlook softens in May
The tighter financial conditions will affect business sentiment in the near future.
Value of Hong Kong's exports, imports to mainland down in Q1
Total exports to the mainland is 31.1% lower in value compared with Q1 2022.
Hong Kong ends 4-year reign as most expensive location for expatriates
In Asia, however, it remains the most expensive location.
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