Economy
Poverty rate rises to 20.4% in 2019
This was blamed on the accelerating number of ageing citizens.
GDP down 0.5% in Q3
This amounts to $722.8b, whilst GNY fell to $764.1b.
Exports to Mainland down 9.2% to $150.6b in Q3
This accounts for 25.6% of the total exports.
Check out the brands hit hardest Hong Kong's social unrest
Xiaomi is one of the hardest hit brands as its metric scores fell.
Accommodation industry's business receipts fell 19.1% in Q3
Business receipts declined across nine industries.
1 in 20 firms fully disclosed environmental targets in 2019
The percentage of firms who have set goals for ESG declined to 15%.
Spooked investors back long-term debt as default and recession risks rise
Approximately $3.2t in Chinese debt is poised to mature by 2023, spelling trouble for Hong Kong.
Exports fell 9.2% to $348.5b in October
The city recorded a trade deficit of $30.6b or 8.1% of imports.
Inflation slows to 3.1% in October
Food products rose sharply at 13.3% due to elevated pork prices.
Real GDP forecast revised down to -1.3% for 2019
Revised GDP figures revealed that the economy contracted 2.9% in Q3.
Two-thirds of accountants expect recession spill-over into 2020
2 in 5 expect GDP to decline by over 1%.
Export volumes contract 7.8% in September
This marks the seventh straight month of decline.
Business activity sinks to record-low as PMI drops to 39.3 in October
Demand from mainland China fell at the sharpest rate in 21 years.
SFC to issue virtual asset trading license
The regulator has published a set of standards comparable to licensed securities and trading brokers.
Hong Kong sinks into recession
GDP slumped 3.2% into region’s worst performance since the 2009 global financial crisis.
Hong Kong economic growth may plunge into negative territory by end-2019
Both domestic and external demand remained weak.
Hong Kong urged to boost $2b economic stimulus
Some subsidies may drive consumption overseas or remain useless amidst the protests, argued Natixis.
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