Official Defends Flexible Growth Goal Amid Jobless Rise
On.cc · 1 SOURCESabout 3 hours ago2 MIN
Summary
A Hong Kong government official said on Sunday that it was difficult to predict whether the unemployment rate would fall after the latest reading rose to 3.8%. The official also said the government had taken a pragmatic approach in its first five-year plan by setting real GDP growth within a “reasonable range” instead of giving a fixed numerical target.
Key Points
- Speaking on a television programme on Sunday, the official responded to questions about the government’s first five-year plan and the latest Policy Address.
- The official said Hong Kong’s economy is affected by external factors including the Covid-19 pandemic, wars and changes in the global trade order.
- On unemployment, the official said it was hard to assess whether the 3.8% rate would fall, asking whether anyone could predict bank deposits five years ahead.
- The first five-year plan contains 22 major indicators, but its real GDP growth target is framed only as staying within a “reasonable range”.
- The government said the Northern Metropolis and innovation and technology would serve as twin engines, and it had raised its 2026 GDP growth forecast by 1 percentage point to 3%.
Why It Matters
The remarks indicate the government is avoiding hard promises on jobs while tying its economic strategy to longer-term development projects and support for businesses. They also show officials are trying to reassure the public that new technology initiatives such as the proposed “AI city brain” are aimed at urban management rather than surveillance, even as questions persist over possible links to law-enforcement CCTV systems.