'Second-half economic climate better than the first'
Financial Secretary Paul Chan said he expects the city's economic climate to improve further. Speaking at an event on Monday marking the 50th anniversary of the business daily Hong Kong Economic Journal, Chan said the economic environment in the second half of 2023 should be better than in the first six months unless major external challenges emerge. The financial secretary said the economy has been on the mend, with the aviation sector returning to 60 percent of pre-pandemic levels and an even stronger rebound in retail and consumption. He said the arrival of more high-quality tourists would also further boost the economy over the next six months. Chan added that the local economy will be powered by the twin engines of finance as well as innovation and technology on the way forward.