Hong Kong

hong: Photo Lu Wenao/GT Months-long social unrest has dampened Hong Kong's prospects, as the city has been struggling with cooling business, housing woes and limited opportunities for the youth, according to Global Times China. When foreign investors raised questions about the future of this international trade and financial hub, a top Hong Kong finance officer said the city could overcome the downturn only by deepening cooperation with the Chinese mainland. Player option ; Hong Kong Finance Secretary Paul Chan Mo-po. The trade war launched by the US against China, in addition to the ongoing social turbulence, seriously weighed on the momentum of Hong Kong, as street protests take a toll on various sectors ranging from tourism to retail, and it may even become worse in the third quarter of 2019, Hong Kong Finance Secretary Paul Chan Mo-po told the Global Times in an exclusive interview on Wednesday. If it continues shrinking, the city may enter a recession in technical terms, Chan said, noting that it also depends on whether the social unrest eases soon. It's possible that the third quarter GDP will continue to decrease, considering tepid business activity in tourism, retail and restaurants. (news.financializer.com). As reported in the news.