{"id":409310,"date":"2025-09-09T02:26:10","date_gmt":"2025-09-09T02:26:10","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/409310\/"},"modified":"2025-09-09T02:26:10","modified_gmt":"2025-09-09T02:26:10","slug":"hong-kongs-economy-is-growing-but-why-are-some-sectors-still-hurting","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/409310\/","title":{"rendered":"Hong Kong\u2019s economy is growing, but why are some sectors still hurting?"},"content":{"rendered":"<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">With Hong Kong leader John Lee set to deliver his annual policy address on September 17, the Post examines key topics the chief executive is expected to focus on, including a mega infrastructure project near the border, new economic drivers and livelihood issues.<\/p>\n<p>In the third of a <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/series\/3324550\/john-lees-2025-policy-address-what-expect?module=inline&amp;pgtype=article?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"noopener\">seven-part series<\/a>, Lam Ka-sing looks at how the wider business community outside the financial sector can be supported amid economic transition.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Jacky Ko Chung-kit, who owns two media companies in Hong Kong, has not seen his business thrive even though the economy has been expanding in the past few quarters.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">According to the 46-year-old entrepreneur, advertising is seen as an economic bellwether, and companies have asked for fewer quotations for advertisements and events this year than in previous years.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">\u201cSo we do not have much business and we dare not hire people, to control costs,\u201d he said.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">The slump in Ko\u2019s business does not match official data that Hong Kong\u2019s gross domestic product (GDP) grew year on year over 10 quarters in a row, while the city\u2019s stock exchange has also returned to the world\u2019s top since 2019 in terms of IPO fundraising in the first half of 2025.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">The strong performance in the financial sector stands in contrast to the rising jobless rate and the slow recovery of retail sales amid the seemingly unstoppable trend of spending on the mainland. Observers also said the city\u2019s IT industry would need time to take off given the uncertainties posed by geopolitics.<\/p>\n","protected":false},"excerpt":{"rendered":"With Hong Kong leader John Lee set to deliver his annual policy address on September 17, the Post&hellip;\n","protected":false},"author":2,"featured_media":409311,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[140888,51,140898,140889,1700,3448,140895,3749,140899,140892,140894,140893,140897,140891,26948,140896,140890,16,15],"class_list":{"0":"post-409310","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-baptist-university","9":"tag-business","10":"tag-chinese-association-of-hong-kong-and-macau-studies","11":"tag-chinese-university-of-hong-kong","12":"tag-economy","13":"tag-gdp","14":"tag-hk2-transport-scheme","15":"tag-hong-kong","16":"tag-jacky-ko-chung-kit","17":"tag-kai-tak-cruise-terminal","18":"tag-kol-workers-association","19":"tag-lau-siu-kai","20":"tag-lee-shu-kam","21":"tag-policy-address","22":"tag-retail-sales","23":"tag-simon-lee-siu-po","24":"tag-society-for-community-organization","25":"tag-uk","26":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115171975903955589","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/409310","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=409310"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/409310\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/409311"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=409310"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=409310"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=409310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}