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Hong Kong's GDP Rate Expected to Increase

Written by: Editor

Hong-Kong- GDP-Rate-Expected-to-Increase.jpgHong Kong’s gross domestic product is expected to increase to 2.4% in 2017, a notable difference from the initially predicted 1.8% growth. Analysts attribute this growth to an increase in consumption, the development of particular business fields but also the positive evolution of influencing economies like that in China. The team of experts at our law firm in Hong Kong can give you a complete insight into the requirements for investments in this market.

The GDP growth forecast for 2017

The gross domestic product (GDP) in Hong Kong increased by 3.1% on a year-on-year basis, a value recorded for the fourth quarter of 2016. This is a significant increase from the 2% growth recorded in the preceding quarter. 
An important element for this growth was consumption, which contributed with 2.1 points to the total growth. It rose by 3.2%, its highest value since the second quarter of 2015.
The overall GDP growth for 2016 was 1.9%, nearing the upper value of the estimate made by the Government of between 1 and 2%. Experts believe that this momentum will continue and thus they have increased their estimate for 2017 for 2 to 3%. 
As far as the evolution of the business sectors is concerned, the report revealed that services exports and tourism are important factors for growth.
One of our lawyers in Hong Kong can give you specific information about these business sectors and the legislation for investments.

Growth factors

The analysts at hang Seng Bank list the following among important factors that will help aid Hong Kong’s economy: the recovery of advanced economies and the growth in Mainland China (one that is predicted to be steady). Moreover, experts remain considerate of possible changes in the global economic situation as well as changes in the international trade policies. As far as external trade and cooperation is concerned, Hong Kong has signed a number of double tax treaties and bilateral agreements with many other countries.
The experts at our law firm in Hong Kong can give you more information about the trade policies, the laws for investment and the general requirements for entrepreneurs. Please contact us for more details about investing in Hong Kong and if you have specific questions.


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