The Straits Times
High-quality regional free trade agreements will bring tangible economic benefits, says Commerce Secretary Edward Yau.PHOTO: REUTERS
Published57 min ago
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Hong Kong looks forward to formal dialogues on accession to RCEP: official - China News sina.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sina.com Daily Mail and Mail on Sunday newspapers.
HONG KONG, June 5 (Xinhua) Hong Kong looks forward to commencing formal dialogues on its accession to the Regional Comprehensive Economic Partnership (RCEP)
Yau explained that imports and exports have been a very strong catalyst of growth in the last few months, with overall trade hitting record levels in some months. However, retail sales are moderating and tourism is still struggling to recover, he said.
Such uneven economic performance is also reflected in the jobs market, and will likely remain so as Hong Kong faces the twin battle of containing the spread of Covid and reviving the economy, added Yau.
The Hong Kong economy grew 7.9% in the first quarter of 2021 compared to a year ago. It was the city s first economic expansion after six consecutive quarters of year-on-year contraction.