HONG KONG (Reuters) – Hong Kong’s chief kicked off his annual coverage tackle on Wednesday with pledges to reform shortcomings together with a pledge to scale back wait occasions for public housing as authorities attempt to bolster their give attention to individuals’s livelihoods.
John Lee, in his third coverage tackle as chief, stated authorities will streamline procedures for corporations in search of to checklist in Hong Kong and attempt for extra worldwide firm listings on its inventory change.
The federal government stated it’s going to additionally arrange a world commodity change and set up a gasoline bunkering centre, to faucet alternatives in inexperienced delivery and aviation.
Hong Kong’s small and open economic system has felt the ripple results of a slowdown within the Chinese language economic system. It grew by 3.3% within the second quarter from a yr earlier, and is forecast to develop 2.5%-3.5% for the yr.
Though tourism numbers have rebounded since COVID, with 46 million guests anticipated this yr, consumption and retail spending stay sluggish, whereas inventory listings have dried up and capital flight stays a problem.
