Hong Kong to expand market reach in H2

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HONG KONG: Hong Kong will continue to expand its market reach in the second half of this year to deepen ties with investors in Europe, the United States, Australia and the Middle East, Hong Kong Special Administrative Region Financial Secretary Paul Chan said Sunday.

Hong Kong's overall economic situation is stable, with a 3.3 percent year-on-year growth in GDP in the second quarter, Chan noted in his blog. While changes in consumer spending patterns and a relatively strong Hong Kong dollar put some pressure on private consumption, companies can meet the challenges and seize new opportunities by creating new business models and promoting high-quality products and services, he said.

In the first half of this year, about 700,000 of the 21 million visitors to Hong Kong were MICE overnight visitors, recovering to 80 percent of the pre-pandemic level, the fastest recovery among all overnight visitors, Chan noted, adding that the group stayed in Hong Kong longer and spent 20 to 30 percent more per capita than overall visitors.

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