Hong Kong's economy contracts 4% in the first quarter of 2022, breaking four quarters of growth.
“Timing of reopening of border will hinge crucially on the COVID situation in both China and Hong Kong,” said Samuel Tse, an economist at DBS Bank. “Our most optimistic assumption is that it will gradually reopen around end Q3-mid Q4.”Hong Kong’s economy is expected to grow 2% to 3.
5% this year after expanding 6.4% in 2021, with underlying inflation at 2%.from May for the first time in more than two years as the number of daily COVID-19 infections fell, a small step in unwinding stringent restrictions which have turned the city into one of the world’s most isolated places.
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