GDP连增十个季度 私人消费时隔一年转正：香港稳住了｜湾区观察
Di Yi Cai Jing·2025-07-31 14:27

Economic Growth - Hong Kong's economy continues to expand steadily, supported by strong export performance and improved local demand, with GDP increasing by 3.1% year-on-year in Q2 2025, marking the tenth consecutive quarter of growth [1][2] - Private consumption expenditure has shown a recovery with a 1.9% year-on-year increase after four consecutive quarters of decline, while government consumption expenditure rose by 2.5% compared to the previous year [1][2] Investment and Trade - Local fixed capital formation increased by 2.9% year-on-year in Q2 2025, following a 1.1% rise in Q1 [2] - Merchandise exports grew by 11.5% year-on-year, accelerating from 8.4% in Q1, while imports rose by 12.7%, up from 7.2% in the previous quarter [2][3] Retail Sector - The retail sector is stabilizing, with total retail sales value in June estimated at HKD 30.1 billion, a 0.7% year-on-year increase [2][3] - Seasonal adjustments show a 0.3% increase in retail sales value and a 2.7% increase in retail sales volume from Q1 to Q2 2025 [2] Financial Market - The Hong Kong stock market is gradually recovering, with 42 IPOs raising over HKD 107 billion in the first half of the year, a 22% increase compared to the previous year [4] - The Hang Seng Index rose by 20% in the first half of the year, marking the largest half-year increase in history [4] Government Initiatives - The Hong Kong government is accelerating economic transformation by promoting high-value industries and has launched various support programs for strategic industries [4][5] - The government is also consulting on legislation for digital asset trading and custody services to foster the development of the digital asset market [4] Competitive Advantage - Strengthening ties with mainland China is seen as a significant long-term advantage for Hong Kong's development, with recent agreements enhancing investment facilitation [5] - Hong Kong's global competitiveness ranking has improved to third place, reflecting the effectiveness of government policies [5]