Economy
Government eyes extensive voucher coverage
Government eyes extensive voucher coverage
The e-consumption vouchers, however, will not be useable for paying government fees.
All is “not rosy” despite higher-than-expected economic growth
The 7.8% YOY GDP growth was above the 3.7% Bloomberg estimate, but it will take more than that to return Hong Kong to more prosperous times.
Economy rebounds 7.8% after six quarters of contraction
The GDP growth during the first quarter was linked to Hong Kong's stronger external trade.
Hong Kong's loan-to-deposit ratio rises to 83.3% in March
A gradual rise in loan demand is being seen as the economy begins to recover, OCBC has said.
Government records $232b fiscal deficit
Fiscal reserves, meanwhile, stood at $927.8b, as of 31 March.
Around 42% of consumers grapple to pay bills on time
Financial pressure amongst Hongkongers remains intense, following several waves of the COVID-19 outbreak.
Government sees “strong GDP growth” in first quarter
This comes after Hong Kong’s economy contracted 6.1% over the course of 2020.
Measure granting personal tax concessions passes LegCo
The bill is expected to relieve financial burden of taxpayers.
March sees $27b trade deficit
The total value of exports and imports rose 26.4% and 21.7%, respectively.
Inflation may still “reaccelerate”: OCBC
The bank maintained its inflation forecast at 1.6% to 1.8% in 2021.
SG-HK air travel bubble to start (again) on 26 May
The proposed bubble has seen multiple delays since it was first supposed to go ahead in November last year.
Business optimism in Hong Kong climbs to 16%
Only 9% of businesses expected a better situation over the coming three months in the preceding quarter.
Inflation rate speeds up slightly to 0.5% in March
This is faster than the 0.3% recorded in the same month last year.
What can drive Hong Kong's economic growth?
JLL has identified eight drivers that will bring Hong Kong to “New Heights”.
Redsun Services acquires 80% equity interest in property management companies
The acquisition by its wholly-owned subsidiary has a consideration of $87.8m (RMB73.54m).
Hong Kong exports rose 37% in first two months
Total imports also increased 27.2% in the same period.
Hong Kong's "very high net worth" population falls by 5.4%
The city is still amongst the top 10 territories with the wealthiest populations.
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