Hong Kong's Finance Chief Promises Fiscal Discipline Amid Global Economic Challenges

April 27, 2025 - 13:14

Hong Kong's finance chief, Paul Chan, has expressed optimism about the city's economic performance in the first quarter of the year, projecting solid growth despite ongoing global uncertainties. In his remarks, Chan emphasized the importance of maintaining strict control over government spending to ensure the region's competitiveness in a challenging economic landscape.

He pointed out that the "bullying acts" of the United States continue to cast a shadow over the global economic outlook, creating an environment of unpredictability. Chan's commitment to fiscal discipline is aimed at bolstering investor confidence and supporting local businesses as they navigate these turbulent times.

The finance chief also highlighted the government's efforts to stimulate economic activity through various initiatives, including support for small and medium-sized enterprises. As Hong Kong strives to recover from the impacts of the pandemic, Chan's focus on prudent financial management is seen as a crucial step in fostering sustainable growth and resilience against external pressures.