HONG KONG (AP) -- Hong Kong's finance chief forecasts that the economy of the Asian financial center could grow up to 4 percent this year after expanding 2.9 percent in 2013.
Financial Secretary John Tsang said Wednesday that he predicts 3-4 percent growth in 2014 for the semiautonomous southern Chinese city.
That's lower than the 4.5 percent average annual growth rate over the past decade. Tsang said Hong Kong's economy expanded 2.9 percent in 2013, nearly double the 1.5 percent rate in the previous year.
Mainland China helped underpin Hong Kong's growth as a tepid recovery in the major export markets of U.S and Europe dragged down its trade. Tsang warned of volatile markets and capital flows as the Fed scales back its economic stimulus.
yahoo.com
Financial Secretary John Tsang said Wednesday that he predicts 3-4 percent growth in 2014 for the semiautonomous southern Chinese city.
That's lower than the 4.5 percent average annual growth rate over the past decade. Tsang said Hong Kong's economy expanded 2.9 percent in 2013, nearly double the 1.5 percent rate in the previous year.
Mainland China helped underpin Hong Kong's growth as a tepid recovery in the major export markets of U.S and Europe dragged down its trade. Tsang warned of volatile markets and capital flows as the Fed scales back its economic stimulus.
yahoo.com
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