Economic growth in the second quarter of 2016

Benefiting from a pick-up in goods exports, in the second quarter of this year, the Hong Kong economy grew by 1.7 per cent in real terms over a year ago. This is higher than the 0.8 per cent year-on-year growth in the first quarter and is better than expected - thanks to the concerted efforts by all sectors and members of the community.

We should cherish the vitality of the Hong Kong economy given persistent uncertainties in the external economic environment. We should keep confidence in Hong Kong and work together to promote economic development. At the same time, we should develop new industries, such as the innovation and technology industry, and open up new markets in the Mainland and overseas.

Economic development is the only way to improve people's livelihood continually. This will also create more employment opportunities and enhance upward mobility for our young people.

August 13, 2016