Changes of Security & Economic Growth addressed by the Hong Kong Policy
Reuters
Hong Kong Policy announces change from security to economic growth.
Hong Kong will make an official announcement for ways to increase the city’s economy in the annual policy on Wednesday, as expectations to rebuild the financial centre since the struggle from COVID.
Slow functions in Hong Kong’s economy have a big impact in the Chinese economy. The city's economy expanded by 3.3% in the second quarter from a year earlier and is expected to grow 2.5-3.5% for the year.
Tourist numbers have increased since the pandemic, around 46 million people are expected to visit this year, although consumption and finance remain low, with stock listings not provided and the capital flight faces challenges.
Hong Kong's financial secretary announced on February new improvements with expanding property, tourism and financial services, stating the deficiency to the complex geopolitical environment and budget costs.
In the meeting held last month between China's top official on Hong Kong affairs, Xia Baolong and Hong Kong leader John Lee, Xia explained requirements of "reforms" to increase the economic growth, to be parallel with China's national strategy.
He requested for the Hong Kong government to "unite and lead all sectors of society" advising on reforms, along with businessmen to help in this matter.
One commentator in China Daily, a state-run news channel said Xia's speech is in need for "economic and social reforms".
Lee has mentioned the main goal for this year would be on the economic improvement and people's daily lives. His government added a new national security regulation in March which Lee stated it maintained.
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