Standard Chartered Sees Hong Kong GDP Growth At 4.3% This Year

Standard Chartered expects Hong Kong GDP to grow 4.3% this year, with senior economist for Greater China and North Asia Tony Wu saying that is a relatively fast pace for a developed economy, according to Ming Pao. Wu said the property market recovered in the first half, but transactions slowed in June. He attributed the weaker activity to short-term factors, including poor stock market performance earlier, the World Cup affecting property viewings, and tighter controls on non-standard investment funds coming into Hong Kong from the mainland at the end of May, which also hurt confidence in the near term.