The Financial Secretary of the Hong Kong Special Administrative Region, Paul Chan, announced in a blog post on the 27th that the estimated GDP for the second quarter of this year will be released soon. Driven by export activities, overall investment, and private consumption, the upward trend is expected to continue, which will be the tenth consecutive quarter of growth. Chen Maobo said that Hong Kong's retail sales volume recorded its first year-on-year increase in 14 months in May, indicating that the consumer market has shown initial signs of stabilization, and the June figures are also cautiously optimistic; Overall, private consumption, which has been declining for four consecutive quarters, is expected to rebound in the second quarter of this year. Chen Maobo stated that as the economy maintains momentum, funds continue to flow in, the stock market is improving, and the real estate market is stabilizing, coupled with the government's strong promotion of major events and high value-added tourism, as well as the active response of private institutions, all provide certain support for private consumption and market atmosphere. The recent "Hong Kong Football Festival" held at Kai Tak Sports Park and the "Hong Kong Anime and Video Game Festival" held at the Convention and Exhibition Center have the common feature of attracting a large number of fans from home and abroad, driving sales of related products, and creating business opportunities. Chen Maobo pointed out that the SAR government has been fully committed to exploring new economic growth points and vigorously supporting the development of innovative technology in the past period. It is precisely hoped that the development brought by technological innovation can be seized, and more high-quality and high-tech employment positions can be created by attracting more enterprises to settle down and expanding local enterprises, while providing support for the demand for other types of job positions. At the same time, the SAR government is committed to exploring more overseas new markets, seeking new partners, and developing supply chain management centers, allowing Hong Kong to flexibly seize development opportunities. As long as these efforts are firmly and continuously promoted, with more companies choosing to develop or expand their operations in Hong Kong, the overall competitiveness of Hong Kong will be further enhanced, and it will gradually bring more support to the job market. Economic transformation and upgrading is an inevitable and continuous dynamic process. Vigorously promoting the development and application of innovative technologies, striving to attract global capital, and cultivating talents for the future are key to enhancing competitiveness and upgrading the economic structure. As long as we have firm confidence, make good use of the advantages of stable national development and policy support, and persist in promoting more diversified and high-quality development of the Hong Kong economy, we will be able to continue to add momentum to the Hong Kong economy and benefit the citizens. ”Chen Maobo said. (New Society)