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Japan:
Second India-Japan strategic dialogue on economic issues
China:
India-Brazil-South Africa to cooperate in health sector
South Korea:
South Korea Gives US Beef The All Clear
India:
Indian government approves re-structured APDRP
Pakistan:
Restoration of Indo-Pak dialogue to push trade
Singapore:
India-Brazil-South Africa to cooperate in health sector
Thailand:
Fastest Growth for Thailand Economy in Six Quarters
Taiwan:
Taiwan Enjoy Expanded Trade Surplus
Indonesia:
Central Bank Chief Of Indonesia Detained
Malaysia:
Malaysia economy grows and banking liberalises
Hong Kong Economy Sees Above-Expectation Growth Through Second Quarter
by Stewart DouglasThe rate of growth in the Hong Kong economy has grown significantly, beyond analyst expectations according to fiogures released today.
The figures have shown growth over the second quarter to June of 6.9% in real terms, according to the Statistical Office today. And with first quarter growth of an impressive 5.7%, the Hong Kong economy looks to be driving forward through the course of this year.
Whilst far outstripping analyst expectations, the growth has led to the revision of the yearly growth predictions, up from 4.5-5.5% to the 5-6% region, reflecting growing confidence in the strnegth of the economy.
Gross Domestic Product (GDP) was up by 2.0% on the month in real terms, reflecting an increase in the living standards of ordinary Hong Kong citizens as well as a growth in the national spending power, as an indicator of growth in the economy overall.
After ranking well in a recent report by the Asia Development Bank, the Hong Kong economy is becoming recognised as one of the strongest in the region, providing the highest living standards for its citizens alongside Singapore.
The government today said that despite poor performance in the US housing market, the Hong Kong economy could continue to grow ahead of analyst expectations with the backing of strong growth in Japan and Europe, as well as startling momentum in mainland China.
The export market with China was particularly up, as one of the fundamental relationships for the Hong Kong economy. Additionally trade with Europe and Japan was also up on the second quarter, thanks to particularly impressive results in financial service exports.
In the first six months of the year, inflation was also maintained at just 1.5%, with the weak US dollar and growing food prices contributing to much of the upwards pressure.
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