Hong Kong finance chief sees growth near lower end of forecast

HONG Kong’s economic growth this year is expected to be near the lower end of its forecast range, Financial Secretary Paul Chan said in his weekly blog.

The city’s government released a forecast in August saying this year’s growth would be in the range of 2.5 to 3.5 per cent. It is set to announce full-year economic projections and finalised third-quarter gross domestic product data on Nov 15.

The economy grew 1.8 per cent in the three months ended September, according to advance estimates announced last month. That marked the weakest pace in five quarters, due to slower exports and spending. 

The economy will continue to maintain momentum for the rest of the year as market sentiment in areas including stock trading and property has improved, Chan said in the blog post.