hong kong economic forecast 2021

A young trader at the Hong Kong branch of a mainland brokerage learned five years ago what matters most in local finance. Real GDP contracted by 1.2% in 2019, the slowest rate of expansion since 2009. 23.0% On this page you can find the economic calendar of Hong Kong and actual data for the country's important economic indicators. However, China was the first major economy to show a strong recovery after bringing the virus largely under control. GBP/HKD forecast for 2021. AGBrief Editorial. 7 June 2021 Hong Kong's recent economic situation and near-term outlook (PDF) Hong Kong's latest overall economic situation (PDF) Looking forward, the recession might deepen in Q1 2020. However, in recent years, the hours of reduced visibility in Hong Kong have decreased by significant amounts compared to the previous ten years. The government had earlier forecasted its real GDP growth of 3.5% to 5.5% for 2021. Click here to subscribe to the USD/HKD Exchange Rate Extended Forecast. (RTTNews) - The Hong Kong stock market has finished lower in four straight sessions, sinking more than 680 points or 2.3 percent along the way. Retail sales increased 10.9% year-on-year in April (March: +19.9% yoy). Hong Kong: GDP expands for the first time since Q2 2019 in the first quarter of the year. The government this year increased its national expenditure by approximately 20 percent, forecasting a budget deficit of HKD 139.1 billion (US$17.9 billion) (about 4.8 percent of Hong Kong’s GDP) in 2021. February 25, 2021. A long range forecast for the HK Dollar to US Dollar exchange rate and similar financial series is available by subscription. China Economic Forecast 2021 While China launched the deadly Corona Virus plague around the world, it is becoming one of the few to escape the pandemic economically. China’s economy was looking dour during the summer of 2020 and forecasts were for a 4.4% decline in GDP for 2020. New forecasts are for up to 9% growth for 2021. The Government's revenue projection is based on its forecast for a real GDP growth of 3.5% to 5.5% in 2021 as the Hong Kong economy rebounds. This blend cannot be replicated and has propelled its economy for decades. The 2021 projection of 85,500 applicants is almost 50% higher than the average annual volume of Hong Kong home sales over the past five years. Ravaged by the COVID-19 pandemic, Hong Kong’s economy contracted by 9% in the first half of 2020. A A. Hong Kong cut its economic outlook for the year on Friday, saying a recovery from recession depended on how fast it can get a new wave of coronavirus infections under control. Hong Kong IPOs forecast to raise record amount in 2021, PwC says Companies floating shares in city expected to raise between $54.2 billion and $59.3 billion this year, with biotech listings continuing to be active. Historical Data (%) by years. 2021 Projected Real GDP (% Change) : 4.3; 2021 Projected Consumer Prices (% Change): 1.4; Country Population: 7.474 million; Article IV/Country Report: December 30, 2019 The "Internet Data Center Market in China and Hong Kong - Industry Outlook and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering. May 14, 2021 On a quarter-to-quarter basis, the GDP rose by 5.3 percent in the first three months. Hong Kong's epidemic slows down, citizens look forward to economic recovery, smile more 2021-06-11T03:24:01.229Z The Special Administrative Region government and all sectors of society have launched various measures to encourage citizens to get the new crown vaccine. 2.2 The total government revenue for 2021-2022 is forecast to be HK$591.1 billion (Figure 3). Inflation Rate in Hong Kong increased by 0.4 % in April 2021 over the previous month. The Hong Kong Hang Seng Index has declined by c. 8.5% since 20 January, as markets are pricing in the risk of protracted lower growth. ... expect we’ll have a vaccine sometime between October 2020 and March 2021. Current Exchange Rates. The 2021 Budget announced measures allocating HK$9.5 billion to supporting businesses amid the economic downturn. Many measures, such as the business registration and utility fee waivers, are a continuation of measures announced in last year’s budget, with some slight adjustments. The economic forecast depends on the Covid-19 pandemic forecast. But let’s try anyway. Current Exchange Rates. Retail sales increased 10.9% year-on-year in April (March: +19.9% yoy). Hong Kong: Upgrading the 2021 outlook The rebound of asset prices and economy will hinge crucially on the development of COVID and the relaxation of immigration policies. 19 May 2021. Equities Q2 2021 Technical Forecast 2021-04-03 12:30:00 Margaret Yang, CFA , Strategist S&P 500 Index May Extend Higher as Nikkei 225, Hang Seng Index Consolidate Hong Kong Data Centre raised floor space Forecast - from 2020 to 2025 in m2 per annum. Hong Kong’s economy resumed appreciable year-on-year growth of 7.9% in real terms in the first quarter of 2021, after a fall of 2.8% (year-on-year) in the preceding quarter. The Hang Seng Index now rests just shy of … South Korea expands “flight to nowhere” services. In recent weeks we have made downward revisions to our real GDP forecast for Hong Kong in 2020, and now expect the economy to contract by 2.3%. In normal times, post-Brexit Britain would be making a beeline for Hong Kong. -. The revised forecast will be released on May 14. This represents an increase of 8.8% over a year earlier, a turnaround from the decrease of 8.0% in 2020-2021. Read more. Now, however, these advantages are at risk of erosion. HKU announces 2021 Q1 HK Macroeconomic Forecast January 6, 2021 The APEC Studies Programme of the Hong Kong Institute of Economics and Business Strategy at the University of Hong Kong (HKU) released its quarterly Hong Kong Macroeconomic Forecast today (January 6). Even as the political restrictions are growing tighter , Hong Kong—with its successful COVID-19 response and strong export markets—looks to be on an economic upswing. Hong Kong Economic News. The United States and China are undergoing major economic challenges due to the COVID-19 pandemic. Air pollution in Hong Kong is considered a serious problem. Hong Kong is a … Here, we take a look at the highlights of the 2020-2021 budget that will take effect at the start of Hong Kong’s fiscal year in April. Extend the application period of 100% guarantee low-interest loan for enterprises to year-end and raise loan ceiling to HK$6m. As such, the largest sector of the economy is services, which accounts for around 93 percent of GDP. Hong Kong Data Centre Revenues Forecast - from 2020 to 2025 in millions of USD per annum. Growth Forecasts Being Slashed Weekly Forecasts for China's economic growth have been slashed again, and completely recomposed. Group … T HE ECONOMIC toll of the covid-19 pandemic is incalculable. Yao Yang. In real terms, Hong Kong… Hong Kong’s economy shrank a record 6 percent last year, due to the pandemic, but is forecast to recover significantly by the end of 2021. While getting off to a strong start in 2021, Hong Kong still faces a bumpy road ahead. June 1, 2021. Hong Kong’s fiscal reserve will remain strong at about HKD 994 billion at 31 March 2021. April 7, 2021. The June UCLA Anderson Forecast conference will discuss the latest forecast and outlook for the changing economy, with a focus on commercial real estate in California and nationwide. By the late 20th century, Hong Kong was the seventh largest port in the world and second only to New York and Rotterdam in terms of container throughput. On a quarter-to-quarter basis, the GDP rose by 5.3 percent in the first three months. Updated: 7:50pm, 11 Jun ... She has won a number of regional and Hong Kong press awards and was a … Global economic growth is now expected to be 5.8% this year, a sharp upwards revision from the December 2020 Economic Outlook projection of 4.2% for 2021.The vaccines rollout in many of the advanced economies has been driving the improvement, as … Hong Kong Data Centre Customer Power Forecast - from 2020 to 2025 in MW per annum. The COVID-19 pandemic continues to cast a long shadow over the world’s economies but economic prospects have improved with the forthcoming global vaccines rollout, although divergences are increasing across and within countries. It was the city's first economic expansion after six consecutive quarters of year-on-year contraction. 2020OECD Economic Outlook, Interim Report March 2021. Publication date: 22 Apr 2021. us Podcast. This has taken into account the launch of countercyclical fiscal measures and the continued increase in recurrent expenditure. Issue HK$5,000 electronic consumption vouchers in instalments to Hong Kong permanent resident and new arrival aged 18 or above. Since 2019 the authorities in Hong Kong have been considering a ban on alternative smoking products such as e-cigarettes, heated tobacco and herbal sticks (tobacco-free). April 14, 2021 11:11 AM Eastern Daylight Time. Despite hopes for a recovery after this year’s pandemic-induced meltdown, property consultancies have issued cautious forecasts for Hong Kong in the new year, with office leasing in particular braced for a further decline after a battering in 2020. The COVID-19 pandemic has had a more negative impact on activity in the first half of 2020 than anticipated, and the recovery is … Hong Kong Office Rents Could Fall 10% in 2021 After New Leases Slid 39% This Year. Hong Kong's gross domestic product (GDP) surged by 7.8 percent year on year in the first three months of 2021, Census and Statistics Department data showed on Monday. Agenda. 2020 Annual U.S.-China Economic Report. Hong Kong's comparative advantage is a blend of ingredients that make it unique in the global economy and financial system. Hong Kong will introduce 120 billion Hong Kong dollars ($15.4 billion) in fiscal measures to help businesses and residents impacted by the coronavirus pandemic as it looks towards economic … HONG KONG: Hong Kong cut its economic outlook for the year on Friday (Aug 14), saying a recovery from recession depended on how fast it … Revised forecast deficit of HK$257.6bn for 2020/21 and forecast deficit HK$101.6bn for 2021/22. This would be a powerful pull factor for the economy; Implication to our forecast: 2021 GDP growth is revised up to 4.0% from 0.5% HONG KONG, May 14 (Xinhua) -- An economist of the government of China's Hong Kong Special Administrative Region (HKSAR) Friday maintained the forecast that Hong Kong's economy will expand by 3.5 percent to 5.5 percent for the whole year of 2021 despite a better-than-expected gross domestic product (GDP) growth in the first quarter. The current quarter marco forecasts have been released on a quarterly basis since 1999. The recovery was uneven and the economic activity was still below the pre-recession level as the epidemic continued to weigh on consumption-related sectors, in particular tourism, the spokesman said. Read more. Huang Yiping. The Hong Kong economy contracted by 6.1% for 2020 as a whole, the sharpest annual decline on record. The economy saw a visibly enlarged year-on-year contraction of 9.0% in the first half of 2020 as the COVID-19 pandemic dealt a heavy blow to global and local economic activities. Striking a positive tone, Chan forecast that the Hong Kong economy will grow from 3.5 per cent to 5.5 per cent in 2021, compared with a 6.1 per cent contraction last year. Hong Kong Economy Remains in Recession 2021-01-29 Hong Kong GDP Annual Growth Rate In recent years, Hong Kong has become an international hub for business, trade and finance importers willing to access the Chinese market. This, the Corona Virus, Hong Kong invasiong, and outrageous debt will be the source of … Looking into 2021, the widely usage of effective vaccines is going to stimulate Hong Kong’s economy, and the “14th Five-Year Plan” will also bring great development opportunities. Hong Kong: Retail sales growth loses pace in April. GDP Last Reference Previous Frequency; GDP q/q: 5.4% Fiscal reserves are estimated at HKD 937.1 billion by the end of March 2025, which is equal to about 15 months of government expenditure. Malaysia's Richest. Bloomberg Economics revised up its China GDP growth projection for 2021 to 9.3% from 8.2%. K-beauty exports rise 16% despite Covid-19. Forecast of China’s Economy for 2021. This year's economic rebound was largely sparked by a sharp resurgence in exports fuelled by recoveries in … However, the PBOC estimates GDP growth to average 6% over the next five years. In 2009, Hong Kong's real economic growth fell by 2.8% as a result of the global financial turmoil. Hong Kong Data Centre Pricing - average rentals - from 2020 to 2025 in USD per month. Hong Kong Major Report - Hong Kong Market Outlook 2021 Hong Kong’s economy will gradually recover from a low base in 2021, supported by a solid rebound in China. Hong Kong: GDP expands for the first time since Q2 2019 in the first quarter of the year. Hong Kong’s new loyalty oath is the final nail in democracy’s coffin 14:44, 6 June 2021; HKFP Lens: Hong Kong 1868-1872 – a look back through the … The Hong Kong General Chamber of Commerce (HKGCC) unveiled its 2021 economic forecast today (17 Dec), which envisages real GDP growth of … Ties of language, history and culture would form part of the rationale for this, but more important would be the opportunity to cut a trade deal with one of the most dynamic economies on earth. May 14, 2021 8 Mar 2021 First China International Consumer Products Expo held in Hainan. 4 Hong Kong's economy will drop to 5 percent this year and bounce back by 4.3 percent in 2021, HSBC Private Banking estimates. Forecasts are provided by leading economists whose individual views are shown together with the average (mean) forecast. Considering the latest internal and external situations as well as the stimulus effect of the fiscal measures, the real GDP growth forecast for 2021 as a whole is 3.5% - 5.5%. Analysts have already been lowering their forecasts for Hong Kong’s economic expansion. Though many of the economic measures are similar to those announced in 2020, there is a subtle shift away from immediate lump sum relief measures to more long-term strategies. The economy will emerge from recession in 2021, but will be smaller in real terms than it was in 2018.

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