Financial Secretary Paul Chan said on Sunday that he believes Hong Kong’s economy will remain strong and resilient going forward.

His remarks came after the SAR recorded a real gross domestic product growth of 3.8 percent year-on-year in the third quarter.

Speaking on a radio programme, Chan said the expansion could be attributed to accurate decisions that the government made in response to the global economic volatility.

“We made a correct judgement previously. Despite the trade war and rising tariffs, we made a timely announcement that Hong Kong would not impose any tariff as we are to maintain our unique advantage as a free port under the One Country, Two Systems principle,” he said.

“Meanwhile, we welcome friends from all around the world to invest and do business in Hong Kong while we seek business opportunities outside the city. We also pushed for the reform of the finance and stock markets, so we saw a lot of incoming funds.”

Chan also said Hong Kong saw a more than 10 percent surge in mainland and overseas tourists so far this year.

The retail and catering sectors, he added, have overcome challenges and recorded growth.

The Financial Secretary said the government will consult the public for the upcoming Budget later, adding that authorities are conducting research with the business sector.

Separately, Chan wrote in his weekly blog that Hong Kong’s economic growth is expected to continue next year.

The minister pointed out that the SAR will continue to consolidate its status as an international financial, shipping and trade centre, and work towards developing itself into a global innovation hub.