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The Economic Situation of Hong Kong and Its Unique Role in the Construction of “The Belt and Road” and Guangdong-Hong Kong-Macau Greater Bay Area (No.198, 2018)


By Wang Yiming, Wu Zhenyu & Lan Zongmin, Research Team, DRC

Research Report, No.198, 2018 (Total 5473) 2018-11-21

Abstract: In the first half of this year, Hong Kong’s economy grew by 4%, and its growth trend was better than expected. At the same time, with the adverse adjustment to the global loose monetary environment, the continued interest rate increase of the Federal Reserve and the escalation of Sino-US trade frictions, the challenges and risks of economic operation in the second half of this year have increased. In order to get a better understanding of the latest developments in Hong Kong’s economy, we took the opportunity of attending the Financial Summit Forum of Guangdong-Hong Kong-Macao Greater Bay Area sponsored by the Hong Kong Chinese Enterprise Association and the Hong Kong Chinese Banking Association to conduct field research in the Bank of China (Hong Kong) Limited, China Merchants Bureau Group, China Resources Group and the Hong Kong Chinese Securities Association, and held a discussion with President Chen Delin of the Hong Kong Financial Authority. Viewing from the survey, all sides are highly concerned about the impact of the Sino-US trade frictions on Hong Kong’s economy. At the same time, the enthusiasm for participating in the construction of “The Belt and Road” and the construction of Guangdong-Hong Kong-Macau Greater Bay Area has increased significantly. To this end, we need to create conditions and incentives for Hong Kong to utilize “its advantages” to serve for “the needs of China,” deepen its cooperation with the Mainland, and promote Hong Kong’s economic upgrading transformation, and long-term prosperity and stability.

Key words: the economic situation, “The Belt and Road”, Guangdong-Hongkong-Macau Greater Bay Area, Hong Kong