People's Republic of China-Hong Kong Special Administrative Region: 2016 Article IV Consultation-Press Release and Staff Report

January 12, 2017

Summary

This 2016 Article IV Consultation highlights that with a soft global trade environment and a downturn in tourism arrivals from Mainland China, the growth rate of Hong Kong Special Administrative Region is expected to have slowed to 1.5 percent in 2016. Growth is likely to pick up modestly to about 2 percent in 2017, with private consumption continuing to be a main driver supported by a steady labor market. The current account surplus remained below 3 percent of GDP. Over the longer term, aging pressures may weaken the structural fiscal position, requiring fiscal planning to alleviate the decline, and a housing supply shortage also needs to be tackled.

Subject: Economic and financial statistics, External sector statistics, Fiscal policy, Housing, Income, Income distribution, National accounts

Keywords: article IV consultation discussion, authority, China, convertibility undertaking, CR, discussion, External sector statistics, GDP, Global, Housing, Income, Income distribution, ISCR, market volatility, People's Republic of China-Hong Kong Special Administrative Region, property market

Pages:
66
Volume:
2017
DOI:
https://doi.org/10.5089/9781475566031.002
Issue:
011
Series:
Country Report No. 2017/011
Stock No:
1HKGEA2017001
ISBN:
9781475566031
ISSN:
1934-7685

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