In this Jan 10, 2019 photo, Hong Kong's Financial Secretary Paul Chan Mo-po speaks at a forum held by the Chinese General Chamber of Commerce in Hong Kong. (PROVIDED TO CHINA DAILY)
HONG KONG – Financial Secretary Paul Chan Mo-po has said the city’s upcoming budget will focus on improving people’s livelihood, supporting employment and economic growth in Hong Kong, as the external environment is volatile.
Talking to reporters on Sunday, Chan said Hong Kong’s economic growth has been slackening, from 4.6 percent in the first quarter last year to 2.8 percent in the third quarter, according to a government news release.
As some figures, such as export, already showed a slowdown or even declining trend in the fourth quarter, he anticipated the economic growth in the quarter will be below 1.5 percent and for 2018 as a whole 3 percent – the lower limit of the range forecast in last year’s budget.
Looking ahead, the financial secretary said the city is facing a number of uncertainties in the external environment, such as the China-US trade talks, Brexit, and geopolitical issues, added the release.
The government will take note of these factors while preparing the budget, he added.
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