Economic Overview - Hong Kong's economy showed robust performance in Q1 2023, with real GDP growing by 3.1% year-on-year, an acceleration from 2.5% in the previous quarter. Seasonally adjusted, the real GDP increased by 1.9% quarter-on-quarter [1][2]. Government Focus Areas - The Hong Kong government is concentrating on four main areas: consolidating market fundamentals, driving economic transformation through reform and innovation, exploring new markets and opportunities, and accelerating the development of the Northern Metropolis [1][2]. Economic Transformation - Hong Kong is building a new industrial ecosystem centered around artificial intelligence (AI), establishing the Hong Kong AI Research Institute, and enhancing key elements such as computing power, algorithms, data, talent, and funding [2]. Market Expansion - The government aims to strengthen ties with traditional markets while expanding into emerging markets in the "Global South." Policy tools will be flexibly adjusted to assist businesses in navigating challenges and seizing opportunities [2]. Northern Metropolis Development - There is an emphasis on accelerating the construction of the Northern Metropolis and enhancing collaboration with other cities in the Greater Bay Area to inject new momentum and development into the economy [2]. Economic Forecast - The forecast for Hong Kong's real GDP growth for the full year 2025 remains at 2% to 3%, with overall consumer price inflation projected at 1.5% and 1.8% respectively [2].