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Hong Kong's Economy Grew 5.1% in H1, Financial Secretary Says

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Hong Kong's economy grew 5.1% in the first half of the year, outperforming expectations, Financial Secretary Paul Chan said in a blog post on Sunday.

Chan said strong global demand for artificial intelligence products, robust financial and business services, and rising visitor arrivals are expected to support growth in the second half.

He also said the launch of offshore yuan treasury bond futures on Monday marks a new milestone in Hong Kong's development as the world's largest offshore renminbi business hub.

The new product expands risk management tools for international investors and complements Bond Connect and Swap Connect, he said.

Chan added that overseas investors held more than 3 trillion yuan of mainland bonds through Bond Connect as of the end of June, underscoring growing demand for offshore hedging products.

He said Hong Kong will continue expanding its offshore yuan ecosystem and strengthen its role in advancing the internationalization of the Chinese currency.

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