HOME    NEWS    SPECIAL REPORT    PHOTO    COMMENTARY    VOICE
NEWS > Taiwan/HK
Hong Kong's economy grew by 7.3 percent in 2005
2006-02-22 01:52:55 THE ASSOCIATED PRESS

HONG KONG, Feb 22 (AP) -- Hong Kong's economy grew by 7.3 percent in 2005, showing it has fully recovered from the 1997-1998 Asian financial crisis, the financial chief said Wednesday.

"Hong Kong has now fully emerged from the Asian financial crisis and has regained its strength and vitality," Financial Secretary Henry Tang said in his annual budget speech to lawmakers. "I am cautiously optimistic about this year's economic outlook."

Last year's nominal gross domestic product -- the sum of all goods and services produced -- surpassed its 1997 peak to reach a new record of HK$1.382 trillion, Tang said. The economy grew by 8.1 percent in 2004.

For 2006, Tang said he expects Hong Kong's GDP to increase by 4 percent to 5 percent on year, which is slightly higher than the trend growth rate over the past decade.

MORE NEWS
Taiwan leader's remarks reveal secessionist nature: scholar  
HK January consumer prices up 2.6%  
Actor charges Taiwanese government with muzzling mainland star  
Fang Zhaoling, painter and mother of former HK No 2 official Anson Chan, dies at 92  
Dead magpie in urban Hong Kong tests positive for H5N1  
Macao's retail sales up 17% in 2005  
Paper supplier to raise US$435.9m in HK listing  
World Firefighters Games held in HK  

SINA English is the English-language destination for news and information about China. Find general information on life, culture and travel in China through our news and special reportsúČor find business partners through our online Business Directory. For investment opportunities with SINA, please click the link "Investor" below.
| About SINA | Investor | Media Kit | Comments or Question? |
Copyright © 1996-2006 SINA Corporation, All Rights Reserved