People’s Republic of China—Hong Kong Special Administrative Region: 2023 Article IV Consultation Discussions-Press Release; and Staff Report

May 31, 2023

Preview Citation

Format: Chicago

People’s Republic of China—Hong Kong Special Administrative Region: 2023 Article IV Consultation Discussions-Press Release; and Staff Report, (USA: International Monetary Fund, 2023) accessed November 21, 2024

Summary

After coping with another year of large COVID-related disruptions, economic activity is normalizing with the re-opening of the border, including with Mainland China. Strong fiscal policy support has helped the economy navigate through multiple shocks over the last few years, while strong institutional frameworks and financial buffers have allowed the financial system to remain resilient and continue to operate smoothly, including the Linked Exchange Rate System. The economy is facing macro-financial challenges amid rising interest rates, spillovers from strains in Mainland China’s real estate sector, adjustment in the local property market, and global economic slowdown.

Subject: Credit, Economic and financial statistics, External sector statistics, Financial regulation and supervision, Housing, Housing prices, International organization, Monetary policy, Money, National accounts, Prices

Keywords: Credit, Exchange rate system, Expenditure measure, External sector statistics, GDP compilation, Global, Hong Kong SAR authority, Hong Kong SAR economy, Hong Kong SAR official, Household expenditure survey, Housing, Housing prices, Rate of HK, Return on equity, Transparency policy

Publication Details

Pages:

80
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2023/186
Stock No:

1HKGEA2023001
ISBN:

9798400243905
ISSN:

1934-7685

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