Hong Kong Economy Nears 10th Consecutive Quarterly Growth

Hong Kong's economy is on track for its 10th consecutive quarter of growth, propelled by strong exports, increased investment, and a rebound in private consumption. Financial Secretary Paul Chan highlighted that retail sales in May marked the first year-on-year increase in 14 months, signaling market stabilization, with cautious optimism for June. The government is actively promoting innovation, technology development, mega-events, and high-value tourism to sustain momentum and boost market sentiment. The labor market remains stable, with median monthly salaries rising nearly 7% year-on-year, though labor-intensive sectors face challenges amid economic transformation. Efforts to expand overseas markets and develop supply chain management hubs are part of the broader strategy to ensure diversified and high-quality growth. Retraining initiatives and technology upgrades are being emphasized to support employment and economic resilience.