Statistics show that Hong Kong's economy is progressing steadily, said Paul Chan, financial secretary of the Hong Kong Special Administrative Region (HKSAR) government, on Sunday.

Citing preliminary economic estimates for the fourth quarter and full year of 2024, which are due to be released later on Monday, Chan noted in a blog post that Hong Kong has witnessed a significant increase in visitor numbers during the fourth quarter of last year, stable personal consumption, and robust trading in the stock market since late September in 2024.

He also pointed out that the real estate market remained stable, the job market was favorable, and inflation was kept moderate, setting a positive tone for Hong Kong's economy in 2025.

The HKSAR government is actively organizing more unique events to boost foot traffic and attract tourists, including the Standard Chartered Hong Kong Marathon, Art Basel, and financial conferences, which are expected to create more opportunities for the city, Chan added.

However, he cautioned that the HKSAR government must respond with caution to continued risks from external political and economic situations and a high interest-rate environment. He also expressed hope that technological innovation will drive better and faster economic growth for Hong Kong.

Continuous efforts will be made to promote the development of artificial intelligence in Hong Kong through talent, data, computing power, algorithms, and application scenarios, among other areas, aiming to translate innovative technology into tangible social and economic benefits, he said.

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