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Following is a transcript of remarks by the Secretary for Financial Services and the Treasury, Professor K C Chan, at a media session after attending a radio programme this morning (May 14):
Reporter: (Are you worried about Hong Kong's economic growth this year?)
Secretary for Financial Services and the Treasury: I am not worried because we actually have a forecast for this year's GDP (Gross Domestic Product) growth between one to two per cent. Now, it is a bit low, clearly, but it is very much affected by what is going on in the external economy. The growth, particularly in the European market, is actually quite low, so that is really what is going on in our situation. And I think that basically Hong Kong's economy is flexible. I have very strong confidence in our ability to manage any kind of economic adjustments. Particularly, Hong Kong has a very strong domestic consumption. We have very strong employment, and people have enjoyed very good wage increases in the last couple of years. So, I think there are a lot of good bases for us to adjust to the economic changes.
(Please also refer to the Chinese portion of the transcript.)
Ends/Saturday, May 14, 2016
Issued at HKT 13:33
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