Hong Kong Q3 GDP Growth to Hit 3.0 Percent

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Last updated at: (Beijing Time) Saturday, November 23, 2002

Hong Kong Q3 GDP Growth to Hit 3.0 Percent

Hong Kong's third quarter GDP growth will hit 3.0 percent, Hong Kong Special Administrative Region Chief Executive Tung Chee Hwa was quoted as saying by the South China Morning Post Friday.

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Hong Kong's third quarter GDP growth will hit 3.0 percent, Hong Kong Special Administrative Region Chief Executive Tung Chee Hwa was quoted as saying by the South China Morning Post Friday.

He said he is hopeful the government's property market reforms will help beat deflation, which has seriously dampened investment and consumption.

In the second quarter, Hong Kong recorded 0.5 percent GDP growth. The government is due to release third quarter economic data next Friday.

Tung was also quoted as saying the government has yet to make afull assessment of the likely development of the global economy next year.

But he said he is not optimistic about the Japanese and European economies, although the US economy may do slightly better.

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