Edward Yau: Hong Kong economy maintains growth momentum, capital market sentiment improves

Hong Kong's economy maintains growth momentum, with an improved capital market atmosphere. In the first quarter of this year, Hong Kong's GDP grew by 2.7%, marking five consecutive quarters of growth. The Hang Seng Index rose for nine consecutive trading days, with a cumulative increase of nearly 14%. The Hong Kong property market saw active transactions and stabilized prices. Visitor arrivals to Hong Kong increased, leading to a significant growth in service exports. The external environment is complex and volatile, with uncertainties present. The strong Hong Kong dollar has impacted mainland visitors' spending in Hong Kong, leading to changes in consumption patterns for Hong Kong residents and visitors, posing challenges to the retail and catering industries. The central government has actively responded to the Hong Kong government's proposal to optimize the individual travel scheme. Companies should focus on creating consumption opportunities and scenarios, driving event-based economy, and seizing opportunities in new product development and new operational models