Hong Kong economy is predicted to grow 3 percent from 2020 to 2023

  • Hong Kong's economy is expected to average growth of 3 percent from 2020-2023, Financial Secretary Paul Chan said on Wednesday, as he announced his budget for Asia's financial hub.
  • Hong Kong's open and trade-reliant economy has been buffeted by external risks, including the U.S.-Sino trade war, China slowdown, cooling property prices and stock market volatility.
A general view shows residential and commercial buildings in the Kowloon district of Hong Kong.
ANTHONY WALLACE | AFP | Getty Images
A general view shows residential and commercial buildings in the Kowloon district of Hong Kong.

Hong Kong's economy is expected to average growth of 3 percent from 2020-2023, Financial Secretary Paul Chan said on Wednesday, as he announced his budget for Asia's financial hub.

Chan also said the economy grew 1.3 percent in the fourth quarter from a year earlier, the weakest increase since the first quarter of 2016, and 3 percent for the full-year 2018.

Hong Kong's open and trade-reliant economy has been buffeted by external risks, including the U.S.-Sino trade war, China slowdown, cooling property prices and stock market volatility.