Govt Monitoring Economy: FS

(To watch the video with sign language interpretation, click here.)

Financial Secretary Paul Chan today said the Government is closely monitoring Hong Kong’s economic situation and livelihood issues.

Speaking to the media after the Financial Leaders Forum meeting in the afternoon, Mr Chan said: “Our second quarter economic data indicates that on a quarter-to-quarter basis, the GDP has decelerated in the second quarter and in fact there is a downward adjustment of about 0.3%.”

He noted the economic situation was challenging domestically and externally in July.

“Domestically, we are still struggling with our own social issues and externally, there are increasing external uncertainties caused by the escalating US-China trade conflict, as well as other geopolitical situations.”

He added the city’s economy would be in a technical recessionary period if the third quarter sees negative growth.

"We just like to highlight the risks to our people so that we all stay vigilant and bring our attention more to our economic and livelihood issues."