Xia Yalang, Chairman of the General Chamber of Commerce: Hong Kong is in a difficult period and has not seen foreign capital divestment

Financial News

Written by: Kuang Yueting

2020-05-15 18:30

The new crown pneumonia epidemic is raging all over the world. The chairman of the Hong Kong General Chamber of Commerce, Xia Yalang, said that Hong Kong is being hit by the Sino-US trade war, social movements and the new crown pneumonia epidemic. It is in a difficult period, but Hong Kong still has a good economic tone. The low tax system, the rule of law and judicial independence attract Many foreign businessmen have arrived in Hong Kong and have not seen any withdrawal of foreign capital for the time being. I believe that after the epidemic, the investment market sentiment will improve.

Hong Kong's 23-day "zero diagnosis" disconnected. Xia Yalang said that Hong Kong's epidemic prevention work is doing well. It is difficult to predict when the epidemic will disappear. Because Hong Kong is an export-oriented economy, Hong Kong is not immune to the global economic weakness, so it is expected. The situation of the economic V bomb during the SARS period will no longer occur, and it will take 2 to 3 years to recover to the economic level before the outbreak. The Chief Executive Officer of the Hong Kong General Chamber of Commerce, Leung Siu Kee, expected that the Hong Kong economy would be lifted with the flow of people and traffic, and could rebound slightly. However, the SARS outbreak only occurred in Guangdong in those years, but the current epidemic broke out to the whole world, so it will take a long time to reply.

Xia Yalang (pictured) called on all sectors of society to work together and focus on restoring the economy. (Webcast screenshot)

It is rumored that China may consider nullifying the Sino-US trade agreement. Sharon believes that during the global economic crisis, international trade cooperation will be better than working independently to improve employment and help the heavily damaged industries such as air travel, services and manufacturing. With the global situation uncertain, China has gradually resumed work, and Hong Kong can explore more opportunities in the neighboring Greater Bay Area.

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Hong Kong General Chamber of Commerce