CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. US Dollar Peg Helping Hong Kong Economy, Says Tang

US Dollar Peg Helping Hong Kong Economy, Says Tang

by Mary Swire, Tax-News.com, Hong Kong

18 December 2006


Hong Kong's Chief Secretary Henry Tang has said that the territory's Linked Exchange Rate System has served it well since its introduction more than twenty years ago, while US dollar weakness against many of the Asian currencies can boost Hong Kong's competitiveness.

Tang told lawmakers last week that while Hong Kong is a very externally oriented economy which is easily affected by global factors, such as the performance of the US economy and economic reform measures on the Mainland, the exchange-rate regime has made the city's financial system highly stable.

Tang went on predict that Hong Kong's economy is likely to have another year of solid and balanced growth in 2007, although growth may moderate next year compared to its brisk pace in the past three years.

The Hong Kong government has revised upwards its growth forecast for 2006 to 6.5%, after third quarter figures showed a surprising 1.3% quarter-to-quarter jump in GDP growth to 6.8%.

The economic forecast for next year will be announced in the Budget Speech on February 28.


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »