HONG KONG (Reuters) – Hong Kong’s chief kicked off his annual coverage handle on Wednesday with pledges to reform shortcomings together with a pledge to scale back wait instances for public housing as authorities attempt to bolster their deal with folks’s livelihoods.
John Lee, in his third coverage handle as chief, mentioned authorities will streamline procedures for corporations searching for to listing in Hong Kong and try for extra worldwide firm listings on its inventory change.
The federal government mentioned it can additionally arrange a world commodity change and set up a gas bunkering centre, to faucet alternatives in inexperienced delivery and aviation.
Hong Kong’s small and open economic system has felt the ripple results of a slowdown within the Chinese language economic system. It grew by 3.3% within the second quarter from a 12 months earlier, and is forecast to develop 2.5%-3.5% for the 12 months.
Though tourism numbers have rebounded since COVID, with 46 million guests anticipated this 12 months, consumption and retail spending stay sluggish, whereas inventory listings have dried up and capital flight stays a problem.
