People’s Republic of China: Hong Kong Special Administrative Region: 2008 Article IV Consultation Discussions: Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion
December 8, 2008
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This paper examines the People’s Republic of China’s Hong Kong Special Administrative Region’s 2008 Article IV Consultation. Growth has slowed in the first half of the year, as external conditions have worsened. Inflation remains elevated, driven by food prices and housing costs. The fallout from the global credit turmoil has spilled into local markets, with equity prices falling markedly and signs of stress in interbank markets. The authorities have responded with a range of measures to provide liquidity, stimulate domestic demand, and bolster confidence.
Subject: Banking, Budget planning and preparation, Fiscal policy, Fiscal stimulus, Income, Inflation, Labor, Minimum wages, National accounts, Prices, Public financial management (PFM)
Keywords: Budget planning and preparation, consumer price, CR, discussion, Fiscal stimulus, Global, headline consumer price inflation, Income, Inflation, interbank lending, ISCR, minimum wage, Minimum wages, sale of HK, staff appraisal
Pages:
41
Volume:
2008
DOI:
Issue:
369
Series:
Country Report No. 2008/369
Stock No:
1HKGEA2008004
ISBN:
9781451817003
ISSN:
1934-7685
