HK economy has turned corner: official

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Last updated at: (Beijing Time) Tuesday, February 24, 2004

HK economy has turned corner: official

Hong Kong economy has turned the corner and its trade is expected to continue to post strong growth this year, Financial Secretary of the Hong Kong government Henry Tang said here Monday.

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Hong Kong economy has turned the corner and its trade is expected to continue to post strong growth this year, Financial Secretary of the Hong Kong government Henry Tang said here Monday.

Speaking at the inaugural ceremony of the 17th Asian Trade Promotion Forum (ATPF), Tang said over the last few years, Hong Kong has faced many challenges on the economic front. But he said he is cautiously optimistic that the Hong Kong economy has turned the corner.

Hong Kong's GDP bounced up to a solid growth of 4 percent in real terms in the third quarter last year. Hong Kong's exports performed even better, by growing nearly 16 percent in December 2003 over a year earlier, said Tang. He expected the trade is to continue to post strong growth this year.

Tang said that there are many positive measures implemented in Hong Kong recently, such as the implementation of the Closer Economic Partnership Arrangement (CEPA), the launch of the "individual visit" scheme for China's mainland visitors and the trial-run of personal Renminbi banking businesses in Hong Kong.

"All this will add momentum to our budding growth and further consolidate our role as a superior two-way platform between the mainland and the world,"

Source:Xinhua

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