Real estate recovery drives growth forecast higher: FS
Financial Secretary Paul Chan on Tuesday said all three drivers of economic growth performed well in the third quarter, with consumption, investment, and exports all recording growth to varying degrees. Hong Kong's advance estimates for the third-quarter GDP are set to be released later in the day. The financial chief had announced over the weekend that the city's full-year economic growth forecast will be revised upwards following a stronger-than-expected 5.1 percent GDP growth in the first half of the year. Chan said other factors also supported the projection, noting that full-year visitor arrivals are likely to exceed the target of 50 million and that the real estate market is improving. "The residential property market has been on the rise since the latter half of last year. Last year, the increase was approximately three percent, while the rise this year has been between seven and 10 percent. In the residential property market, it's fair to say we are moving into a stage of steady ascent.” he said. "In commercial real estate, we have observed significant improvements in office rentals, in terms of rental prices and vacancy rates, particularly in central business districts. It has also stabilised in other districts." An expected influx of...
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The opening of Hong Kong’s first predominantly Chinese medicine-led hospital last December is a milestone for the city’s healthcare system. The Chinese Medicine Hospital of Hong Kong (CMHHK), in addition to providing pure Chinese medicine services, represents the first time patients are able to receive treatment plans led by that system of healing – while also factoring in expertise from Western medical perspectives where appropriate. By leveraging Hong Kong’s role as an international gateway to...
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Shanghai Disney Resort to open third themed hotel in December
Shanghai Disney Resort to open third themed hotel in December
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Not long ago, Cinéma La Clef, one of Paris’s most historic independent cinemas, faced closure. Founded in the 1970s, the movie theatre was an epicentre for the city’s art-house filmmaking yet its owners decided to put it up for sale in 2018 and the end credits seemed nigh. But then the film world responded, vocally and with their money. The result? A newly formed collective acquired La Clef in 2024 and earlier this year it was reopened. “Independent cinemas like this one have always been...
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