Financial Secretary Paul Chan on Sunday reviewed Hong Kong's economic development over the past year, saying the SAR needs to maintain a "curious and open-minded attitude" to meet the challenges of the coming year.

Writing on his official blog, Chan said Hong Kong's economy had rebounded in 2023, while unemployment had fallen to a low level.

But he noted the SAR also faced challenges like heightened geopolitical tensions and changes in the consumption patterns of citizens and tourists.

Looking ahead to the New Year, Chan said officials would continue to go out to tell businesses around the world about Hong Kong's latest developments and opportunities, and expand its "circle of friends."

He added that the government would also host a variety of large-scale sports, cultural, trade, financial and artistic events, in the hope of making Hong Kong an ideal destination for business and leisure travel as well as a place for cultural experiences and family fun.

"At the end of each year, we always look back on the past and summarise our experience. We also look ahead to the New Year and prepare for new challenges. It is not difficult to see that even though the challenges of each year revolve around the same themes, they will present new challenges due to new development trends and environmental changes.

“This means that we must constantly explore new solutions and new paths. We must maintain a curious and open-minded attitude, keep learning and be brave to innovate, and be flexible and innovative in a rapidly changing environment," he said.