Financial Secretary Paul Chan on Sunday said Hong Kong had seen strong exports despite the ongoing tariff war, thanks to the city's business strengths and acumen.

Chan made the remarks as Hong Kong recorded 5.9 percent growth in GDP in the first three months of this year – a near five-year high.

Speaking on Commercial Radio, Chan said exports covered items such as AI-related equipment and communication devices.

He added the SAR saw a 17 percent surge in investment in the first quarter of this year, including investments in the construction sector.

“In the past few years, even if we saw investment growth, it was always single digits or even low single digits. But this quarter we recorded 17 percent growth, showing people are positive and optimistic,” he said.

“With the property market stabilising and growing, we believe the recovery of the construction industry will be even stronger.”

Chan said the government would continue to host mega events to boost the local economy, improve employment among the grassroots and enhance the business environment for the catering, hospitality and retail sectors.

Meanwhile, the finance chief said in his weekly blog that Hong Kong is developing the Northern Metropolis at full speed to support the transformation of scientific achievements and their industrial development.

He said the government had reserved resources to accelerate the growth of emerging industries, such as AI and biomedicine, so that the SAR's research and development capabilities could match the industrial support in the Greater Bay Area for collaborative development.


Edited by Tony Sabine