Hong Kong's economy expands 3.1 percent in Q2

HONG KONG, July 31 (Xinhua) -- Hong Kong's economy continued expansion in the second quarter of 2025, with real gross domestic product (GDP) up 3.1 percent year on year, local data showed on Thursday.

The growth rate picked up from 3 percent registered in the first quarter, according to advance GDP estimates from the Census and Statistics Department of the Hong Kong Special Administrative Region (HKSAR) government.

In breakdown, private consumption expenditure increased by 1.9 percent in real terms over a year earlier, rebounding from a decline of 1.2 percent in the previous quarter.

On a seasonally adjusted quarter-to-quarter comparison basis, GDP increased by 0.4 percent in real terms from the first quarter.

A spokesperson for the HKSAR government said that the solid Q2 growth was boosted by strong export performance and improved domestic demand.

Total exports of goods saw accelerated growth amid resilient external demand, while the bullish local stock market buoyed services export, the spokesperson added.

Private consumption expenditure resumed moderate growth after four consecutive quarters of decline, supported by sanguine consumer sentiments.

Looking ahead, steady economic growth in Asia, particularly in the Chinese mainland, as well as the HKSAR government's policy efforts, will continue to bolster growth, said the spokesperson, while cautioning against potential impacts from U.S. tariff policies and the pace of U.S. interest rate cuts.