Coronavirus: ‘considerable growth’ expected for Hong Kong in first quarter, but pandemic will still be spectre over economic recovery
- Paul Chan also reiterates call for residents to get inoculated, points out this is vital to city’s recovery
- He also warns that growth may not be balanced across industries as some sectors are harder hit
Hong Kong’s economy experienced “considerable growth” in the first quarter of the year but the Covid-19 pandemic will still be a hurdle on the path to recovery, the finance chief has warned.
Financial Secretary Paul Chan Mo-po also wrote in his official blog on Sunday that Hongkongers should actively join the government’s vaccination programme, which was aimed at helping the city’s economy reboot.
The government launched a “vaccine bubble” scheme on Thursday, allowing party rooms, nightclubs, karaoke lounges, bathhouses and bars that do not have restaurant licences to finally reopen after being shut down for months.
Some restaurants, entertainment venues and tour operators have said the rules are complicated and they are struggling with the various requirements.
In his post, Chan noted that since 2019, Hong Kong had experienced one of its longest recessions on record, with six consecutive quarters of economic contraction.