Hong Kong Financial Secretary Discusses Economic Outlook and Innovation

According to Odaily, Hong Kong Financial Secretary Paul Chan Mo-po has written about recent statements from U.S. Federal Reserve officials, which have reignited market expectations for a potential decrease in U.S. interest rates. However, the timing and extent of any rate cuts, as well as their impact on easing asset market pressures and local investment sentiment, require careful evaluation. Looking ahead, Chan emphasized the need to enhance economic momentum and prepare for medium- to long-term development. This includes accelerating the development and application of innovation and technology, empowering traditional industries, and increasing competitiveness through new technological applications or innovative business models. Additionally, he highlighted the importance of promoting research and innovation to play a leading role in economic development, thereby boosting Hong Kong's economic strength.