Hong Kong Tips Strong Q3 Growth as Twin Finance Showpieces Open Next Week

Hong Kong Tips Strong Q3 Growth as Twin Finance Showpieces Open Next Week

Chan flags robust third quarter ahead of data day

Hong Kong's economy stayed on a strong growth path in the third quarter, Financial Secretary Paul Chan Mo-po said on a radio programme on October 31, with preliminary gross domestic product figures due on Tuesday. He said momentum pointed to what could be the strongest full-year expansion in five years, and the government may raise its annual forecast again.

First-half growth of 5.1 percent sets the bar

The economy grew 5.1 percent year on year in the first half, the strongest half-year showing in nearly five years, including a 4.3 percent expansion in the second quarter. Exports of goods surged 28.9 percent in real terms, private consumption rose 2.8 percent and overall investment increased 4.4 percent. In August the government lifted its full-year forecast to a range of 3.5 to 4.5 percent.

September exports jump most in four decades on AI demand

Exports leapt 64.9 percent year on year in September to HK$762.6 billion, the fastest growth in more than 40 years, powered by products linked to artificial intelligence. August retail sales rose 5.6 percent year on year to HK$32.1 billion, a 16th straight monthly gain, while pressure on restaurants has eased, home prices have stabilised and office rents have stopped falling, Chan said.

Two mega events back to back from November 2

Starting Monday, Hong Kong hosts two flagship financial events: the Global Financial Leaders' Investment Summit, with a welcome dinner on November 2 at the Henderson in Central and main sessions on November 3 and 4 at the Four Seasons Hotel, and Hong Kong FinTech Week x StartmeupHK 2026, running November 2 to 6. Chief Executive John Lee Ka-chiu addresses the summit on November 3, with Chan delivering a keynote the following day.

FinTech Week draws 45,000 people from 120 economies

The 11th FinTech Week, themed "Fintech Nexus: Bridging the World, Building the Future," holds its main conference on November 2 and 3 at the Hong Kong Convention and Exhibition Centre, with 10 forums spanning policy, AI and deep tech, digital assets and Web3, AI in finance and green tech. Organisers expect more than 1,000 speakers, 45,000 participants from over 120 economies and 800-plus sponsors and exhibitors, plus an AI forum in Shenzhen on November 4.

IMF sees 3.8 percent growth, Chan sees room for more

The International Monetary Fund has raised its 2026 growth forecast for Hong Kong to 3.8 percent, and Chan, writing after attending the IMF and World Bank annual meetings in Bangkok, said the government was more optimistic, citing capital flows and the AI boom. He cautioned that Middle East tensions were keeping oil prices high and risks remained tilted to the downside, with inflation pressure a watch point.

APEC meeting dividend feeds the pitch to bankers

Chan said the Asia-Pacific Economic Cooperation finance ministers' meeting, held in Hong Kong for the first time in October, had already helped draw capital into the city, with ministers reaching consensus on digital infrastructure, jobs and youth exchanges. He said he hoped the coming summit would deepen visiting executives' understanding of Hong Kong and channel investment into areas such as the Northern Metropolis and technology industries, with the Asian Infrastructure Investment Bank expressing interest in financing Northern Metropolis projects.

What to watch: data, deals and a possible upgrade

Three things come next: Tuesday's preliminary third-quarter GDP print, whether the two events yield concrete investment pledges, and whether the government upgrades its 3.5 to 4.5 percent full-year forecast. Chan reiterated his confidence that the annual target would be met.