Key Points
(Bloomberg) -- Hong Kong expects its economy to grow in a range of 2.5% to 3.5% this year, suggesting a potentially slower rate of expansion as the financial hub tries to bolster a struggling housing market and attract more tourism and investment.ge..
Analysts and economists have pointed to the likelihood that Chans speech will include the lowering of some rates on stamp duties to alleviate pressure on the citys troubled real estate sector..
Confidence in Hong Kong has waned as home prices tumble to a seven-year low, national security measures erode freedoms of expression and a stock rout makes it one of the worlds worst-performing equity markets. High interest rates and Chinas growth slowdown have also weighed on the citys recovery from the pandemic slump..
The city is set to allocate HK$971 million ($124 million) to tourism over the coming three financial years to attract more visitors, according to the SCMP..
Xia Baolong, the head of the Hong Kong and Macau Affairs Office, met with business representatives on Monday and vowed to uphold the one country, two systems governing formula for the city..
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