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The International Monetary Fund (IMF) released its assessment report on Friday, predicting that Hong Kong's economic growth will be about 3% in the medium term, close to its economic growth potential, and that rising global trade frictions, slower-than-expected economic growth in China and rapid adjustment of the property market will increase the risk of Hong Kong's economic growth. It is believed that Hong Kong's creation of sufficient buffer space over the past few years should help to resist it. A less favourable environment.
The IMF also pointed out that the buffer capital and liquidity of Hong Kong banks remained stable, far higher than international standards, and the quality of assets remained good. The linked exchange rate system of Hong Kong dollar and US dollar is still the most suitable one for Hong Kong.
The IMF report provides a preliminary summary of Hong Kong's economic and financial situation last year. The IMF believes that although trade frictions and tightening global financial conditions have increased short-term risks, Hong Kong has been pursuing prudent macroeconomic policies for many years and has established sufficient buffer space, which should help smooth transition and maintain stability. Hong Kong's economy is expected to grow by 3.5% in 2018, while growth is expected to slow to 2.9% in 2019.
Financial Secretary Chen Maobo welcomed the positive evaluation and affirmation of the IMF's robust policy towards Hong Kong.
"As an international financial center and an important gateway to the mainland of China, we will continue to enhance our competitive advantage and grasp the opportunities brought by further regional economic integration, especially the development of Guangdong, Hong Kong, Macao and the Great Bay Area." Chen Maobo said.


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