|2020/11/16||RCEP: Why it Matters |
Fifteen Asia-Pacific countries signed an agreement over the weekend to form the biggest trade group in history, the Regional Comprehensive Economic Partnership (RCEP), after nearly ten years of negotiations.
|2020/11/13||Hong Kong Economy Improves in Q3|
With the local Covid-19 situation becoming more contained, Hong Kong’s economy registered some improvement in the third quarter. During July to September, GDP shrank by 3.5% year-on-year, compared to the contractions of 9.1% and 9% in Q1 and Q2 respectively.
|2020/11/02||Higher Quality of Growth Emphasized in the Next Five-Year Plan|
The 19th Central Committee of the Communist Party of China has concluded its fifth plenary session in Beijing, laying out the framework of the 14th Five Year Plan – a blueprint for the nation’s economic and social development in the next few years – as well as ambitions for the longer term.
|2020/10/13||Greater Autonomy for Shenzhen under New National Plan|
As Shenzhen Special Economic Zone celebrates its 40th anniversary, a new plan from the Central Government has set out the future direction of the city, including greater freedom to enact reforms.
|2020/08/31||Navigating Trade Headwinds|
As the coronavirus continues to weigh on the global economy, Hong Kong’s external trade remains sluggish. In July 2020, the values of total exports and imports of goods dropped by 3% and 3.4% respectively. For the first seven months of the year, exports and imports fell by 6.3% and 8.5% respectively.
|2020/07/31||Turning a Crisis into an Opportunity|
"You can see the computer age everywhere but in the productivity statistics,” said Robert Solow, a Nobel laureate in economics in 1987. This “productivity paradox” seems to have re-emerged, more than three decades after Solow made his remark.
|2020/06/26||IMF downgrades global growth forecasts|
The International Monetary Fund (IMF) has lowered its global growth forecast, as the Covid-19 pandemic continues to unfold, creating a more negative impact on economic activities in the first half of 2020 than originally expected. The IMF now predicts global output to shrink by 4.9% this year, 1.9 percentage points below its April forecast.
|2020/05/05||Hong Kong Economy Shrinks at Record Rate|
The Hong Kong economy contracted at the sharpest pace on record in the first quarter of 2020 as the Covid-19 pandemic disrupted virtually all types of economic activity in the city. The advance GDP estimate for the first three months of the year shows a year-on-year contraction of 8.9%, worse than during both the Asian Financial Crisis and the Global Financial Crisis, when the city’s economy shrank by 8.1% and 7.5% respectively at their lowest points (Figure 1).
|2020/03/25||Global Economic Fallout from Coronavirus|
Against the backdrop of the extraordinary measures being introduced by many governments to curb the spread of the coronavirus, and business activities coming to a halt across the world, financial institutions are busy revising their growth forecasts downwards.
|2020/03/19||Repositioning of Global Supply Chains?|
The latest economic data from Mainland China reveal the hard facts that the world’s second largest economy has been severely hit by the coronavirus outbreak.