Month: February 2023

Authorities justify the ban, which mirrors mainland China's, by arguing that cannabidiol products could be converted into THC, the intoxicating compound in cannabis.

Hong Kong's economy shrank by 3.5 percent in 2022, with exports plunging and the city's worst-ever coronavirus outbreak battering businesses, the government announced Wednesday, while saying it hoped China's reopening would spur a recovery.

Hong Kong’s economy suffered a 3.5 per cent contraction last year as the city struggled to preserve its status as Asia’s financial hub, but economists forecast a rebound to growth in 2023. The Chinese territory’s economy shrank 4.

Hong Kong's economy shrank for the fourth straight quarter, contracting an annual 4.2%, advance government data showed on Wednesday, worse than economists' estimates as weakening global demand and higher interest rates hit exports and spending.

Hong Kong’s economy contracted at a slower pace in the fourth quarter of 2022, partly owing to stronger growth in government consumption expenditure.

Hong Kong’s economy contracted last year for the third time since 2019 as slowing global demand, rising interest rates and a prolonged exit from isolating Covid curbs weighed heavily on the financial hub.