1、PwCs Recommendations for the Chief Executives 2024 Policy AddressA Three-Pronged Approach to Fostering Hong Kongs New Quality Productive ForcesIntroductionIn recent months alone,Hong Kong has undergone drastic changes,unprecedented in both scale and scope,making the path to recovery longer than most

2、 anticipated;how quickly and effectively we adjust will determine Hong Kongs future economic health and competitiveness.Despite a moderate economic growth of 3.3%year-on-year and resilient exports of goods in the second quarter of 2024,an array of challenges persist for Hong Kong,including a global

3、economic slowdown,high interest rates,and geopolitical tensions that could impact trade and investment flows.Exports of services have experienced a slowdown revealing potential vulnerabilities in Hong Kongs service-oriented economy,while private consumption in Q2 2024 declined by 1.5%annually amid a

4、 structural shift in consumption patterns.The labor market remains tight,with the seasonally adjusted unemployment rate holding steady at 3%,a figure that underscores the competitive nature of employment.This heightened worry about the future has been widely echoed by the local business community.Ac

5、cording to PwCs CEO Survey China report released in March 2024,71%of CEOs based in Hong Kong believe their companies will struggle to remain economically viable over the next decade if they persist on their current trajectory,a stark contrast to the 45%of CEOs globally who share this concern.In this

6、 view,the HKSAR government must navigate the economic headwinds strategically and decisively,while capitalising on the opportunities presented by closer integration with the Chinese Mainland and regional partnerships.This is particularly relevant in the context of Chinas recent emphasis on developin