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HONG Kong's economy grew 2.7 per cent in the first quarter of 2023 putting an end to four consecutive quarters of contraction.
Although exports continued to decline in the first quarter, faster growth in the economy of mainland China, coupled with acceleration of Hong Kong's aviation capacity, would provide further support, John Lee, Hong Kong's Chief Executive said.
"GDP growth in the second quarter will be better than the first quarter," he told a regular news briefing. "The economy this year will be better than last year."
The latest quarterly figure compared to a 4.1 per cent contraction in the last quarter, added Mr Lee.
All pandemic curbs have been lifted in the former British colony, where Mr Lee has set priority on improving international competitiveness and attracting more overseas talent.
Mr Lee said more than 760,000 people visited Hong Kong at the weekend, going to different parts of the city including country parks and outlying islands, as well as the usual shopping and tourist hotspots.
"I am in support of diversity and creating more attractions for tourists to come," Mr Lee said.
"This will not just help tourism, but also make local developments to go hand-in-hand with the development of tourism and helping overall job creations and development of the economy, and also create a positive image of Hong Kong being a very vibrant and attractive city."
Mr Lee added that the government will ramp up efforts to promote the use of electronic payment to bring convenience to people visiting Hong Kong.
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