Hong Kong’s gross domestic product increased by 4.3% during the first quarter of 2017 shows the date released by Hang Seng Bank. The growth is part due to an increase in consumer spending and part due to more property investments. Based on this data, the growth of the investment sentiment in the city could make room for more company formation in Hong Kong
as consumer spending and demand continues its positive evolution.
The growth report for the first quarter of the year
According to a report released by Hang Seng Bank, during the first quarter of 2017 Hong Kong recorded the largest GDP growth since the second quarter of 2011. The increase of 4.3% surpassed the initial estimates of 3.7% and the growth rate recorded in the previous quarter, of only 3.2%.
The positive evolution can be attributed to more consumer spending and a significant increase in property investment
. Private consumption grew by 3.7% while the building and construction sector recorded an increase of 9.6% in the first quarter this year. For the construction sector, this has been the most significant increase since the second quarter of 2015.
An increase in trade, highlighted by a 9.9% volume growth for imports and exports
, has also contributed to the large first-quarter growth.
Investors who want to open a Hong Kong company are invited to seek professional assistance and guidance during the incorporation process.
The experts at Hong Seng Bank expect that the growth will continue in Hong Kong and, moreover, specialists believe that this positive evolution will be backed up by an improvement in the external markets, including the Eurozone, the United States, and Mainland China
. For the latter, it is expected that the growth will remain constant.
to learn more about company formation in Hong Kong
, the conditions for foreign investments and why this jurisdiction is attractive for many investors in Asia.