News analysis： Hong Kong’s economic opportunities and challenges coexist in 2022.

　　Xinhua News Agency, Hong Kong, December 30 (Reporter Wang Xi) "Looking forward to 2022, Hong Kong’s economic opportunities and challenges coexist." Chen Jianghui, an economic researcher at the Hong Kong Institute of Finance of the Bank of China, said this in an interview a few days ago. Many Hong Kong professionals and experts expressed similar views, which came from their confidence in Hong Kong’s economic recovery.

　　In 2021, Hong Kong’s economy stopped falling and rebounded. Carrie Lam Cheng Yuet-ngor, Chief Executive of the Hong Kong Special Administrative Region, told the media on the 30th that Hong Kong’s gross domestic product (GDP) increased by 7% year-on-year in the first three quarters, and the annual growth is expected to reach 6.4%.

　　The relevant data is even more gratifying. In 2021, the unemployment rate in Hong Kong improved significantly, from 7.2% at the beginning of the year to 4.1% now. At the same time, the import and export of goods rebounded strongly. The total import and export of goods in the first 11 months reached 9,258.4 billion Hong Kong dollars, which was 13.6% higher than the historical high that appeared in 2018. The initial public offering (IPO) of Hong Kong stocks is expected to rank fourth in the world.

　　Hong Kong Container Terminal (data photo). Xinhua News Agency reporter Binghui Lu photo

　　"This will give foreign investors more confidence in doing business in Hong Kong and attract more foreign investors to invest in Hong Kong." Liang Haiming, a Hong Kong economist and dean of Silk Road Zhigu Research Institute, said.

　　In the financial market, more and more Chinese stocks are listed in Hong Kong, which increases the proportion of new economy stocks, increases the depth of Hong Kong stocks, gives investors more choices and continues to consolidate and develop international finance centre’s position.

　　Liang Haiming believes that in 2022, Hong Kong’s economy will continue to maintain the pace of recovery, GDP is expected to achieve a growth rate of around 3%, and the total economic output will reach or even exceed the peak in 2018.

　　He also said that in 2022, Hong Kong can further play the role of "Hong Kong’s strengths and the needs of the country". By deeply participating in the construction of Guangdong-Hong Kong-Macao Greater Bay Area and integrating into the overall situation of national development, Hong Kong can share more opportunities and dividends brought by national development and bring more positive promotion to the development of Hong Kong.

　　At the same time, as a typical small-scale open economy, Hong Kong’s economy always reflects the dynamic transformation of global economic recovery and is deeply influenced by the global economy. In addition to the development of the epidemic, factors such as inflation and economic recovery will bring uncertainty to Hong Kong’s economy.

　　In 2022, Hong Kong’s economic development will still face challenges from the external environment. Chen Maobo, Financial Secretary of the SAR Government, pointed out that the development of the epidemic is still the main source of uncertainty in the global economic outlook. In addition, higher energy and commodity prices may slow down global economic growth and push up inflation, making the fiscal and monetary policies of major economies more uncertain.

　　Looking forward to 2022, Chen Jianghui has great confidence in Hong Kong’s economic development. He predicted that Hong Kong’s economy will continue to maintain positive growth in the coming year, and the unemployment rate is expected to further decline, driven by favorable factors such as the national "14th Five-Year Plan" and the construction of Guangdong-Hong Kong-Macao Greater Bay Area.

　　Yang Yuchuan, a visiting professor in hong kong financial services institute, believes that Hong Kong has the advantage of "one country, two systems", has good financial resources and is backed by Greater Bay Area. As long as the society reduces internal friction, rebuilds a consensus focusing on economic development, pays attention to people’s livelihood on the one hand, and invests in the future on the other, Hong Kong will surely overcome difficulties and create greater glories.