Hong Kong recorded 17 per cent growth in investment in the first quarter, driven mainly by machinery purchases and construction activities that reflect a steadily improving property market.
Financial Secretary Paul Chan Mo-po noted on Sunday that Hong Kong recorded its fastest quarterly expansion in nearly five years at 5.9 per cent. Robust exports and the 17 per cent increase in investment compared with a year ago were the main drivers.
“The 17 per cent investment growth in the first quarter reversed the single-digit growth in the past few years,” he said. Funds were mainly used to purchase machinery and construction-related projects, while stabilisation of the property market increased recovery momentum in the construction industry.
Although the economic data showed improvement, Chan conceded that not all residents might immediately perceive the changes. He remained positive about the investment environment and prospects for the rest of the year.
