Hong Kong's Financial Secretary, Henry Tang, says high oil prices could crimp the region's economic growth, but the impact must not be overlooked.

The government earlier expected the city's GDP this year to grow by 7.5 percent.

Tang said Hong Kong's economic growth would be reduced by point 4 percent if oil prices rise 10 US dollars and remain at that level for a period of 12 months.

He also noted the impact of a fall from 7.5 percent to 7.1 percent may not look drastic, but he added the impact cannot be ignored.

(CCTV.com)