Hong Kong's 2024 economic growth slowed to 2.5%, as residents opted for cheaper shopping in Shenzhen.

Hong Kong's economy grew 2.5% in 2024, a slight slowdown from 2023's 3.2%, due to residents spending more in neighboring areas. Despite stable personal consumption, real estate, and job markets, private spending decreased as people favored cheaper options in Shenzhen. The government plans to boost tourism and economic growth through events and AI development, while cautioning about external risks.

2 months ago
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