Core Viewpoint - The Hong Kong economy showed steady growth in the second quarter of 2025, with a year-on-year real GDP increase of 3.1% and a quarter-on-quarter increase of 0.4% [1] Economic Performance - The overall merchandise exports in Hong Kong experienced a significant year-on-year real growth of 11.5% in the second quarter [1] - Private consumption expenditure rebounded with a year-on-year real increase of 1.9% after four consecutive quarters of decline [1] - Overall investment expenditure saw a further year-on-year real increase of 2.8%, driven by a surge in spending on machinery, equipment, and intellectual property products [1] Future Outlook - The economic growth forecast for Hong Kong for the remainder of 2025 is expected to remain positive, supported by steady growth in the mainland economy, increasing local employment income, a thriving stock market, and a stabilizing residential property market [1] - Government measures aimed at boosting consumption, attracting investment, and exploring new markets are anticipated to provide further support to the Hong Kong economy [1] Inflation Outlook - The forecast for basic and overall consumer price inflation rates for 2025 is maintained at 1.5% and 1.8%, respectively [1]

Economic Performance - Hong Kong's real GDP grew by 3.1% year-on-year in Q2 2025, with an annual growth forecast maintained at 2%-3% [1] - Strong export performance and improved local demand supported the economic expansion in Q2 2025 [1] Export and Service Sector - Overall merchandise exports in Hong Kong experienced a significant real growth of 11.5% year-on-year in Q2 2025, aided by robust external demand and preemptive shipments due to the temporary suspension of US tariffs [1] - The service output also showed a notable real expansion of 7.5% year-on-year, driven by strong tourism growth, increased cross-border transport, and active financial and related business services [1] Future Economic Outlook - The economic outlook for the remainder of the year is positive, supported by steady growth in mainland China's economy, increasing local employment income, a thriving stock market, and a stabilizing residential property market [1] - Government measures aimed at boosting consumption, attracting investment, and exploring new markets are expected to provide further support to Hong Kong's economy [1] External Factors - Uncertainty surrounding US tariff levels and interest rate cuts may impact international trade flows and local investment sentiment, which could influence Hong Kong's future economic growth [2]

Core Viewpoint - The Hong Kong economy shows sustained growth momentum, driven by exports, local consumption, and fixed investment, with GDP increasing by 3.1% year-on-year in Q2 2023, marking the tenth consecutive quarter of positive growth [1][2]. Economic Performance - In Q2 2023, Hong Kong's GDP grew by 3.1% year-on-year, with a 0.4% increase compared to Q1 2023 [1]. - Private consumption expenditure rose by 1.9% year-on-year, while government consumption expenditure increased by 2.5% [1]. - Fixed capital formation grew by 2.9% year-on-year, with merchandise exports up by 11.5% and imports up by 12.7% [1]. - Service output increased by 7.5% year-on-year, and service input rose by 7% [1]. Real Estate and Retail Market - The retail sales value recorded a slight year-on-year growth of 0.3% in Q2 2023, with expectations of mild growth in the restaurant sector [2]. - Residential property prices remained stable, with rental performance strong and transaction volume significantly increasing by approximately 37% quarter-on-quarter [2]. - The number of negative equity cases decreased by 7% to over 37,000 as property prices stabilized [2]. Stock Market and Investment - The total market capitalization of Hong Kong stocks reached HKD 42.7 trillion in the first half of the year, a year-on-year increase of 33% [2]. - Hong Kong led the global IPO market with 52 IPOs raising HKD 124 billion, a 590% increase year-on-year [2]. Government Initiatives and Events - The Hong Kong government is actively promoting investment and talent attraction, which has increased demand for office space [2]. - Upcoming major events, such as the National Games and the Wine and Dine Festival, are expected to boost tourism and economic activity [3]. - The government aims to leverage high-value tourism and various events to enhance local consumption and market sentiment [3].

Core Viewpoint - Hong Kong's economy continues to show resilience with a GDP growth of 3.1% year-on-year in Q2 2025, slightly higher than the previous quarter's growth of 3.0% [1][2] Economic Performance - The GDP for Q2 2025 increased by 0.4% compared to Q1 2025 after seasonal adjustment [1][2] - Private consumption expenditure rose by 1.9% year-on-year in Q2 2025, recovering from a decline of 1.2% in Q1 2025 [1] - Government consumption expenditure recorded a real increase of 2.5% year-on-year in Q2 2025, up from 0.9% in Q1 2025 [1] - Gross fixed capital formation increased by 2.9% year-on-year in Q2 2025, following a 1.1% rise in Q1 2025 [1] - Goods exports saw a significant increase of 11.5% year-on-year in Q2 2025, accelerating from 8.4% in Q1 2025 [1] - Goods imports rose by 12.7% year-on-year in Q2 2025, compared to a 7.2% increase in Q1 2025 [1] - Service output grew by 7.5% year-on-year in Q2 2025, up from 6.3% in Q1 2025 [1] - Service input increased by 7.0% year-on-year in Q2 2025, compared to 4.7% in Q1 2025 [1] External Factors - Strong external demand and improved local demand supported the economic expansion in Q2 2025 [2] - The "export rush" effect was driven by robust goods exports and a temporary easing of U.S. tariff measures [2] - The tourism sector's growth and increased cross-border transport contributed to the significant expansion of service output [2] Future Outlook - The outlook for Hong Kong's economy remains positive, supported by steady growth in the mainland economy and government measures to boost consumption and attract investment [3] - However, uncertainties in the external environment, including renewed U.S. tariffs and unclear interest rate policies, may impact future economic performance [3] - The anticipated decline of the "export rush" effect later in the year could also influence economic dynamics [3]

Group 1 - The Hong Kong Special Administrative Region government reported that the GDP for the first quarter of 2025 is estimated to have increased by 3.1% year-on-year, marking a 0.6 percentage point rise compared to the previous quarter, reaching a five-quarter high [1] - The economy grew by 2% quarter-on-quarter, representing the largest growth rate in two years [1]