Speech by the Chief Executive in delivering “The Chief Executive’s 2018 Policy Address” to the Legislative Council
32. In the first half of this year, the Hong Kong economy grew strongly by 4% in real terms over the previous year, riding on the broadly positive global economic environment. Initial public offering (IPO) activities have been gaining momentum. Up to September, the total IPO funds raised in Hong Kong reached $238 billion, the highest among our counterparts over the world so far. According to the latest annual survey jointly conducted by Invest Hong Kong and the Census and Statistics Department, there are over 8 700 business operations in Hong Kong with parent companies situated overseas or in the Mainland. Among them, 1 530 have their regional headquarters situated in Hong Kong, representing an increase of 8.3% as compared with the same period last year.
33. However, uncertainties in the global economy have increased markedly. As the trade friction between China and the United States is escalating, international trade, financial markets and investment activities might be affected. We will closely monitor changes in the economic environment so that we may respond swiftly and suitably, including providing support for affected enterprises. To this end, the Secretary of Commerce and Economic Development has met with trade associations several times and has just announced a host of supporting measures.
