2023 GDP growth to be above 3%: FS Chan

Export of services will be the main growth driver for the rest of the year.

Despite external headwinds, Hong Kong expects a GDP growth rate of over 3% in 2023.

In a speech, Financial Secretary Paul Chan said continuous improvements in global connectivity and the full resumption of international flights will further drive growth in the city. 

In the short term, Chan said export of services such as inbound tourism and private consumption will be the main economic growth drivers in 2023-1Q24.

In the medium term, financial services and innovation and technology (I&T) will support economic growth.