Hong Kong’s financial chief has revised the city’s fiscal surplus for the previous year to HK$11 billion (US$1.91 billion), nearly four times the original estimate, saying the ongoing Middle East conflict had a limited impact on the economy with gross domestic product (GDP) growth remaining strong in the first quarter. Financial Secretary Paul Chan Mo-po also dismissed concerns that increased bond issuance to fund the Northern Metropolis megaproject would burden future generations as “overly...
The economic divide between the United States and China is projected to widen to US$11 trillion by the end of the decade, yet escalating geopolitics – specifically the war in Iran and the ongoing Strait of Hormuz crisis – could inadvertently act as a stabilising force for bilateral ties, according to a prominent global strategist. Kishore Mahbubani, former president of the UN Security Council and once a top diplomat from Singapore, has forecast that the gross-domestic-product disparity between...
The State registers 10.83% real economic growth rate during 2025-26, according to the recently-released data of the Union Ministry of Statistics and Programme Implementation
The long-standing rivalry between China’s two largest economic heavyweights – with each boasting a gross domestic product comparable to Group of Seven members Italy and Canada – reflects the regional dynamism and shifting economic gravity within the world’s second-biggest economy. Jiangsu has been threatening to end Guangdong’s uninterrupted reign as China’s largest provincial economy since the late 1980s, and the latest economic data reveals the gap between the two narrowed further in the first...
The US-Israeli war on Iran and the current Iranian and American blockades of shipping through the Strait of Hormuz are likely to overshadow China’s first-quarter economic performance, analysts said, with questions looming large about how the world’s second-largest economy will handle their impact. Many observers said they expect the leadership in Beijing will adopt a wait-and-see approach, with little likelihood of an immediate stimulus to guarantee the country’s annual economic target is...
Hong Kong’s finance chief has expressed confidence that the city will climb to at least second place in the global ranking of international financial centres within 10 to 15 years. Financial Secretary Paul Chan Mo-po said on Wednesday at the HSBC Global Investment Summit that the city provided stability and prosperity in uncertain times, citing its strong gross domestic product growth of 3.5 per cent last year, as well as robust export performance and rising private investments. “We went through...
Economic growth across Asia is likely to slow even if oil prices stabilise in the coming months, as the impact of war in the Middle East ripples through industries from manufacturing to tourism, according to the Asian Development Bank. The US and Israeli war on Iran is projected to halt developing Asia’s economic upswing, with the region’s gross domestic product expansion seen moderating to 5.1 per cent this year from 5.4 per cent in 2025, the ADB said in its outlook report on...
PM Narendra Modi spoke about the State’s ‘economic decadence’ and said, “Bengal’s contribution in national GDP has slid to mere five per cent from 12 per cent earlier.”
Hong Kong’s economy showed resilience in the first quarter of 2026 amid a more volatile stock market, even though the conflict in the Middle East continued to fuel market jitters, the city’s finance chief has said. In a review of the city’s economic health in the first three months of this year, Financial Secretary Paul Chan Mo-po on Sunday attributed Hong Kong’s performance to the steady growth of mainland China’s economy, with the city leveraging the situation to establish itself as a global...