People’s Republic of China—Hong Kong Special Administrative Region: Staff Report for the 2006 Article IV Consultation Discussions

Author: International Monetary Fund

Volume/Issue: Volume 2007 Issue 005

Publication date: January 2007

ISBN: 9781451816969

$20.00

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Topics covered in this book

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Exports and Imports , Finance , Inflation , Public Finance , ISCR , CR , report , tax reform proposal , staff appraisal , statement report , Hong Kong SAR economy , interim report , sustained expansion , Competition , Current account , Budget planning and preparation , Global , Asia and Pacific

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Summary

This 2006 Article IV Consultation highlights that Hong Kong Special Administrative Region has recovered strongly from a series of shocks in recent years and, as expected, the pace of growth is now moderating. Growth was 6.8 percent (year over year) in the first three quarters of 2006, somewhat slower than the 7.3 percent recorded in 2005. Inflation is expected to firm modestly with the tightening labor market and as rents adjust to previous increases in property prices. The current account surplus is expected to narrow with maturing external demand.