ING Barings estimates HK GDP growth -0.5% this year and 4% next year

Tim Condon, Chief Economist of ING Barings, said that Hong Kong will benefit from the economic recovery of the US. He pointed out that the eased economic performance of Hong Kong in recent years has been mainly caused by the tumble of residential property price in the aftermath of the Asia financial crisis ; however, as the SAR's housing policy is becoming clear and the property market is starting to revive, the economy will be boosted. He said that the keen domestic demands in the area such as mass media, logistics, entertainment , financial services and health care will stimulate the economy. ING Barings

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