HK’s economic growth forecast at 6.4% in 2021

Hong Kong’s economic growth likely reached 6.4% in 2021, according to Hong Kong’s Financial Secretary Paul Chan Mo-po, marking a recovery from two years of recessions. Chan’s latest estimate is in line with his forecast in October for the city’s growth to be in the upper range of the government projection of 5.5% to 6.5% made in mid-August, according to reports. In a blog post, Chan said the improved economic performance was driven by strong exports, an improvement in local consumption sentiment under the government’s consumer voucher programme, and an increased in vaccination rates and a stable epidemic situation. However, the financial secretary said the breadth, depth, and speed of recovery are still full of uncertainties.