Chairman of the Hong Kong General Chamber of Commerce, Chan Shui Kwan: 31% of the surveyed companies in the annual business outlook survey expect business growth in 2025
The Chairman of the Hong Kong General Chamber of Commerce, Chan Shui Kwan, stated in the annual business outlook survey that despite global economic uncertainties, 31% of the surveyed companies expect their business to grow in 2025. The survey indicates that Hong Kong's economy will recover steadily in 2024, with GDP growth of 2.5% and goods exports increasing by 8.7%. Foreign direct investment will exceed HKD 67 billion, reflecting market confidence. Hong Kong's IPO market is expected to rank fourth globally in 2024, raising over HKD 80 billion
According to the Zhitong Finance APP, on May 23, Chan Shui Kwan, Chairman of the Hong Kong General Chamber of Commerce, stated at the 2025 Annual Members' Meeting that over the past year, geopolitical instability has posed economic challenges for Hong Kong. However, leveraging the advantages of "one country, two systems," Hong Kong has played the role of a super connector and super value adder, linking the mainland and international markets.
In 2024, the local Gross Domestic Product (GDP) is expected to grow by 2.5%, showing a robust recovery; the total value of goods exports is projected to increase by 8.7% year-on-year, with strong supply chain competitiveness. The total amount of foreign direct investment has also exceeded HKD 67 billion, growing nearly 10%, reflecting market confidence in Hong Kong.
Regarding the capital market, Chan Shui Kwan indicated that in 2024, Hong Kong's IPO market will rank fourth globally, with total fundraising exceeding HKD 80 billion. With CATL (03750) listing in Hong Kong, it has propelled Hong Kong's IPO ranking to second in the world.
According to the Chamber's annual business outlook survey, Hong Kong enterprises are cautiously optimistic about the prospects for 2025. Despite facing global uncertainties, 31% of surveyed companies expect business growth. Members are also optimistic about the development potential in the mainland, Southeast Asia, and the Middle East.
When asked whether the impact of U.S. tariffs would lead to adjustments in future economic forecasts, Chan Shui Kwan stated that the survey conducted in November 2024 predicts a GDP growth of 2.3% for 2025, which is close to the government's early-year forecast. With actual GDP growth of 3.1% in the first quarter, she believes that 2.3% is a conservative estimate, and therefore, there is no need for adjustments at this time
