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Hong Kong demonstrated several indicators of economic stabilization and renewed financial activity during the period. The city regained its status as a leading venue for initial public offerings, highlighted by preparations for a listing by Syngenta. A significant legal development saw a court dismiss a liquidation petition against the major developer Country Garden. Concurrently, the government reported a substantial increase in applications for its investment attraction schemes and a notable rise in the number of family offices operating in the city.
Further positive economic data included a 6.6% year-on-year increase in retail sales. On the policy front, authorities are advancing work to establish a regulatory framework for stablecoins. The city is also being positioned as a potential hub for gold trading, part of broader efforts to reinforce its role as an international financial center.
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Feb 26 — Feb 27
Hong Kong's economy shows signs of recovery as budget deficit turns to surplusHong Kong's government reported its operating budget returned to a surplus, marking a turnaround from a string of deficits. The city's economy grew 3.8% in the fourth quarter, and a boom in stock market listings helped improve its financial position. Officials said Hong Kong is near the end of its budget deficit era but caution is still needed. The government also outlined plans to contribute to China's national development plan and to tap a long-standing currency defense fund for the first time in decades.