People's Republic of China-Hong Kong Special Administrative Region : 2019 Article IV Consultation Discussions-Press Release; Staff Report; Staff Statement and Statement by the Executive Director for the People's Republic of China-Hong Kong Special Administrative Region

Author/Editor:

International Monetary Fund. Asia and Pacific Dept

Publication Date:

December 30, 2019

Electronic Access:

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Summary:

Hong Kong SAR economy has been hit hard by both external and domestic shocks and fell into a technical recession in the third quarter. The economy is projected to start recovering next year, but the pace is expected to be gradual and both near- and medium-term risks have increased significantly, including from trade and technology tensions, ongoing social unrest, and structural challenges of insufficient housing supply and high income inequality.