<p>政府今天（2026 年 5 月 15 日）发布了 2026 年第一季度经济报告，并修订了 2026 年第一季度国内生产总值（GDP）数据。政府经济学家 Irina Fan 对 2026 年第一季度的经济表现以及全年最新的 GDP 和价格预测进行了说明。</p>
<p>2026 年第一季度，香港经济强劲增长，外贸持续表现良好，国内需求回暖。第一季度实际 GDP 同比增长 5.9%，较前一季度的 4% 增速加快。经过季节调整的环比比较，实际 GDP 显著增长 2.9%。</p>
<p>第一季度，货物总出口在实际值上同比大幅增长 23.7%，这得益于全球对人工智能（AI）相关电子产品的持续需求以及亚洲地区贸易流的活跃。服务出口在实际值上同比继续稳健增长 3.5%，所有主要服务类别均实现了广泛增长。</p>
<p>国内需求在消费和投资方面均有所增强。第一季度，私人消费支出在实际值上同比增长 4.9%，反映出家庭支出复苏的趋势更加巩固。整体投资支出在第一季度继续以 17.7% 的两位数增速在实际值上同比增长。</p>
<p>第一季度，劳动力市场略有改善。经过季节调整的失业率较前一季度进一步下降 0.1 个百分点，降至 3.7%。在职不足率也下降 0.1 个百分点，降至 1.6%。第一季度，平均就业收入继续实现同比增长。</p>
<p>在第一季度，本地股市表现各异。恒生指数（HSI）在 1 月份上涨至近 28,000 的四年半高点，2 月份横盘整理，3 月份在中东冲突后回调。整个季度，交易和融资活动保持强劲。最近，自进入第二季度以来，恒生指数基本恢复了之前失去的地面，回到了冲突前的水平。此外，住宅物业市场在第一季度继续走强，价格和租金均录得进一步上涨。</p>

恒生指数

南方恒生指数ETF

安硕恒生指数

安硕恒生指数-U

南方恒指ETF

南方一倍看空恒指

华夏恒生ETF

南方两倍看空恒指

<p>香港经济在 2026 年第一季度同比增长 5.9%，主要受到强劲的外贸和国内需求的推动。总出口增长了 23.7%，而私人消费和投资支出分别增长了 4.9% 和 17.7%。失业率降至 3.7%。恒生指数在达到四年半以来的高点后进行了调整，但随后已恢复。住宅房地产市场也表现出强劲，价格和租金均有所上涨</p>

<p>The Government released today (15 May 2026) the First Quarter Economic Report 2026, together with the revised figures on Gross Domestic Product (GDP) for the first quarter of 2026. The Government Economist, Irina Fan, gave an account of the economic performance in the first quarter of 2026 and the latest GDP and price forecasts for the full year.</p>
<div class="lb-trans"><p>政府今天（2026 年 5 月 15 日）发布了 2026 年第一季度经济报告，并修订了 2026 年第一季度国内生产总值（GDP）数据。政府经济学家 Irina Fan 对 2026 年第一季度的经济表现以及全年最新的 GDP 和价格预测进行了说明。</p>
</div><p>The Hong Kong economy expanded robustly in the first quarter of 2026, driven by sustained strong performance in external trade and a pick-up in domestic demand. Real GDP grew by 5.9% year-on-year in the first quarter, accelerating from the 4% growth recorded in the preceding quarter. On a seasonally adjusted quarter-to-quarter comparison, real GDP rose notably by 2.9%.</p>
<div class="lb-trans"><p>2026 年第一季度，香港经济强劲增长，外贸持续表现良好，国内需求回暖。第一季度实际 GDP 同比增长 5.9%，较前一季度的 4% 增速加快。经过季节调整的环比比较，实际 GDP 显著增长 2.9%。</p>
</div><p>Total exports of goods grew markedly by 23.7% year-on-year in real terms in the first quarter, underpinned by sustained global demand for artificial intelligence (AI)-related electronic products and buoyant regional trade flows in Asia. Exports of services continued to expand solidly by 3.5% in real terms over a year earlier, with broad-based growth across all major service groups.</p>
<div class="lb-trans"><p>第一季度，货物总出口在实际值上同比大幅增长 23.7%，这得益于全球对人工智能（AI）相关电子产品的持续需求以及亚洲地区贸易流的活跃。服务出口在实际值上同比继续稳健增长 3.5%，所有主要服务类别均实现了广泛增长。</p>
</div><p>Domestic demand strengthened across both consumption and investment. Private consumption expenditure saw accelerated growth of 4.9% year-on-year in real terms in the first quarter, reflecting a more entrenched recovery in household spending. Overall investment expenditure continued to expand at a double-digit rate of 17.7% year-on-year in real terms in the first quarter.</p>
<div class="lb-trans"><p>国内需求在消费和投资方面均有所增强。第一季度，私人消费支出在实际值上同比增长 4.9%，反映出家庭支出复苏的趋势更加巩固。整体投资支出在第一季度继续以 17.7% 的两位数增速在实际值上同比增长。</p>
</div><p>The labour market showed modest improvement in the first quarter. The seasonally adjusted unemployment rate edged down further by 0.1 percentage point from the preceding quarter to 3.7% in the first quarter. The underemployment rate also decreased by 0.1 percentage point to 1.6%. Average employment earnings continued to record year-on-year growth in the first quarter.</p>
<div class="lb-trans"><p>第一季度，劳动力市场略有改善。经过季节调整的失业率较前一季度进一步下降 0.1 个百分点，降至 3.7%。在职不足率也下降 0.1 个百分点，降至 1.6%。第一季度，平均就业收入继续实现同比增长。</p>
</div><p>The local stock market saw varying monthly performance during the first quarter. The Hang Seng Index (HSI) rallied to a four-and-a-half-year high of nearly 28,000 in January, moved sideways in February, and corrected in March after the Middle East conflict. Trading and fund-raising activities remained strong throughout the quarter. More recently, since entering the second quarter, the HSI has largely recovered the earlier lost ground and returned to pre-conflict levels. Separately, the residential property market continued to strengthen in the first quarter, with both prices and rentals recording further increases.</p>
<div class="lb-trans"><p>在第一季度，本地股市表现各异。恒生指数（HSI）在 1 月份上涨至近 28,000 的四年半高点，2 月份横盘整理，3 月份在中东冲突后回调。整个季度，交易和融资活动保持强劲。最近，自进入第二季度以来，恒生指数基本恢复了之前失去的地面，回到了冲突前的水平。此外，住宅物业市场在第一季度继续走强，价格和租金均录得进一步上涨。</p>
</div>

Govt: HK 1Q Econ Growth at 5.9%; Full-yr Growth Forecast Kept at 2.5-3.5%

- 政府发布 2026 年第一季度经济报告，实际 GDP 同比增长 5.9%。  
- 服务和货物出口大幅增长，私人消费支出同比上涨 4.9%。  
- 失业率小幅下降至 3.7%，股市在季度内保持强劲表现。

政府报告称香港第一季度经济增长率为 5.9%；全年增长预测维持在 2.5% 至 3.5%