In a recent statement, Hong Kong's Financial Secretary expressed optimism about the city's economic performance in the first quarter, attributing it to increased tourism and export activities. Despite acknowledging potential risks from global trade tensions, he emphasized the administration's commitment to managing public expenditure effectively to sustain the region's competitive edge. This forecast precedes the official release of the GDP figures for the period.

Financial Secretary Paul Chan Mo-po highlighted the positive impact of rising tourist numbers and robust exports on Hong Kong's economy during the initial months of the year. In his weekly blog post, he noted that these factors were expected to yield strong GDP results for the first quarter. However, he cautioned against the lingering effects of international trade disputes, particularly those involving unilateral actions by major economies.

The influx of tourists, swelling by 9 percent compared to the previous year, reached an impressive total of 12.2 million visitors within the first three months. This increase was largely due to the organization of several large-scale events and conferences, which invigorated sectors such as retail and food services. These developments contributed significantly to the local economy's vitality.

Chan reiterated the importance of fiscal discipline in preserving Hong Kong's economic resilience amidst external uncertainties. By maintaining a prudent approach to government spending, authorities aim to fortify the city's standing in the global marketplace. Such measures are essential for navigating the complex landscape presented by evolving international trade dynamics.

Looking forward, the administration remains focused on balancing economic growth with strategic financial management. As global economic conditions continue to fluctuate, Hong Kong's steadfast commitment to fiscal responsibility underscores its determination to uphold long-term prosperity and stability.