2014-02-16 08:22:38 - Hong Kong's economic growth rate has slowed in the III quarter, official data showed.
In year on year figure showed an increase of 2.9%, relative to II quarter the economy grew by 0.5%.
The result was worse than forecasts of experts who had expected growth of 0.7% compared to II quarter and 3.2% year on year.
Positive trend in Hong Kong is to provide the influx of tourists into the country, which is expected to support the growth of domestic consumption, as well as the implementation of major infrastructure projects. At the same time, low export volumes will have a negative impact on economic growth.
Hong Kong's economy to its current state owes its advantageous geographical position and characteristics of its historical development. As the largest financial center in Asia and the most important trade and
transport hub of Southern China, Hong Kong plays a very important role in foreign economic relations of the country. Hong Kong's economy has a high level of investment protection and minimal restrictions in trade and movement of capital.
More information about the Hong Kong economy and banking at hk-banks.com