The Financial Secretary of the Hong Kong Special Administrative Region, Paul Chan, announced in a blog post on the 28th that he expects Hong Kong's economy to grow by 3.2% in 2025, slightly higher than the forecast at the beginning of the year, and maintain its growth momentum for the third consecutive year. Chen Maobo said that in 2025, the performance of Hong Kong's asset market will further improve, with continuous inflow of funds, an increase in the number of visitors to Hong Kong, good overall export and fixed capital investment performance, and stable consumption. Overall, exports and investment have performed well and are the main drivers of economic growth, while the rise in stock and real estate prices has also consolidated the positive expectations of the market. He stated that in terms of asset markets, Hong Kong stocks have performed well, rising for the second consecutive year. In the first 11 months of this year, the average daily trading volume of Hong Kong stocks was close to HKD 260 billion. The IPO fundraising amount ranks first in the world, with over HKD 270 billion as of mid month this year. Among them, the listing fundraising amount of four companies ranks among the top ten new stocks in the world this year. During the same period, the subsequent financing amount of listed companies exceeded HKD 510 billion. In terms of asset and wealth management business, in the first nine months of this year, the net inflow of funds recognized by the Securities and Futures Commission registered and established in Hong Kong exceeded 41 billion US dollars, which has increased by more than 1.5 times compared to the whole year of last year. Chen Maobo said that the residential property market in Hong Kong continues to be active, with nearly 57000 transactions in the first 11 months of this year, an increase of about 16% year-on-year, marking the second consecutive year of growth. The cumulative increase in property prices is about 3%, and the increase in rent is about 4%. The market generally holds a positive expectation for the prospects of the residential property market. The atmosphere of the office market has also improved, with a 74% increase in transaction volume in the first 10 months compared to the same period last year, and a slight decline in the vacancy rate of Grade A office buildings. He said that Hong Kong's overall exports performed well in the first three quarters of this year, with fixed capital investment rising by 2.5% during the same period. Private consumption benefited from the recovery of the asset market and the overall market atmosphere, rising by 0.9% in the first three quarters of this year, reversing the decline in the same period last year. Chen Maobo stated that looking ahead to next year, the Hong Kong economy is expected to maintain a good momentum. 2026 is the starting year of the national "15th Five Year Plan", and Hong Kong will be more proactive in aligning with the national development strategy. Finance, innovation and technology, and trade will be the three important development engines for Hong Kong. Chen Maobo stated that in the new year, Hong Kong will comprehensively enhance the functions and connotations of an international financial center, accelerate the construction and expansion of an innovative technology hub with world-class level, and enhance the functions of an international trade center. In the process of better integrating into and serving the overall development of the country, Hong Kong will inevitably achieve better development and create more high-quality employment opportunities, so that the fruits of economic growth and diversified development can better benefit its citizens. (New Society)