Wednesday, July 3, 2024

HK's Economy Strugging in the Doldrums

Hong Kong's economy won't be recovering anytime soon

Hong Kong's economy isn't going to be bouncing back anytime soon with the latest numbers.

According to the Hong Kong Immigration Department, the statistics are as follows:


Following the Covid-19 pandemic, there's even more Hongkongers leaving the city than five years earlier, and a 39 percent drop in mainlanders coming to Hong Kong.

These numbers are not a good sign, and when Beijing has announced that permanent residents who are not ethnically Chinese can now apply for a five-year visa to the mainland, there's going to be a greater exodus from Hong Kong.

What is the Hong Kong government going to do about it, besides chasing mega events as if they were women?

Kevin Yeung Yun-hung, Secretary for Culture, Sports and Tourism must be relieved that he just needs to focus on collecting two pandas from Sichuan to bring to the city within months. That will involve him leading a delegation to go there to discuss the logistics of transporting the pandas, quarantine and naming them.


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