Paul Chan: Hong Kong's economy is expected to record its strongest growth in five years this year.

On November 2, at the welcome dinner of the Global Financial Leaders' Investment Summit, Financial Secretary Paul Chan Mo-po said in his speech that the Hong Kong government will raise its full-year economic growth forecast and expects Hong Kong to record its strongest full-year growth in five years. He pointed out that Hong Kong's economy grew 5.1% in the first half of the year, with growth momentum continuing. Driven by the global artificial intelligence investment boom, exports recorded strong double-digit growth for 12 consecutive months, investment also recorded double-digit increases, consumption showed signs of recovery, and inflation remained at a moderate level of 1.7%. Residential property prices have risen for more than a year, and occupancy rates and rents for commercial properties have also stabilized. On the financial market front, IPO fundraising in the first nine months of this year exceeded HK$388 billion, more than double that of the same period last year and a record high for the period; post-listing financing was strong and trading was active. He stressed that under "one country, two systems," Hong Kong has the support of the central government and enjoys advantages such as robust institutions, a predictable regulatory framework, a friendly business environment, and the free flow of capital. Paul Chan Mo-po said that Hong Kong's first five-year plan will promote the coordinated development of finance, shipping, aviation, trade, innovation and technology, and talent. The Hong Kong government is using patient capital to support innovation and technology, combining Hong Kong's scientific research and internationalization advantages with the Greater Bay Area's advanced manufacturing and supply chain capabilities, and strengthening cooperation among universities, talent, research institutions, and industry through the Northern Metropolis to drive the transformation of scientific research achievements into enterprises and open up mainland and global markets.