1、 FIRST QUARTER ECONOMIC REPORT 2025 OFFICE OF THE GOVERNMENT ECONOMIST FINANCIAL SECRETARYS OFFICE GOVERNMENT OF THE HONG KONG SPECIAL ADMINISTRATIVE REGION May 2025 CONTENTS Paragraphs CHAPTER 1:OVERVIEW OF ECONOMIC PERFORMANCE Overall situation 1.1-1.2 The external sector 1.3-1.4 The domestic sect

2、or 1.5-1.6 The labour sector 1.7 The asset markets 1.8-1.9 Inflation 1.10-1.11 Net output of major economic sectors 1.12 Other economic developments 1.13-1.15 Box 1.1 Business sentiment in Hong Kong CHAPTER 2:THE EXTERNAL SECTOR Merchandise trade External environment 2.1-2.6 Merchandise exports 2.7-

3、2.8 Merchandise imports 2.9 Services trade Exports of services 2.10 Imports of services 2.11 Goods and services balance 2.12 Other developments 2.13-2.15 Box 2.1 Financial conditions of selected Asian economies CHAPTER 3:DEVELOPMENTS IN SELECTED SECTORS Property 3.1-3.12 Land 3.13-3.14 Tourism 3.15-

4、3.17 Logistics 3.18-3.20 Transport 3.21 Innovation and technology 3.22-3.23 Arts,Cultural and Creative Industries 3.24-3.25 Environment 3.26-3.27 Box 3.1 Latest performance of the tourism sector in Hong Kong CHAPTER 4:THE FINANCIAL SECTOR Interest rates and exchange rates 4.1-4.5 Money supply and ba

5、nking sector 4.6-4.10 The debt market 4.11-4.12 The stock and derivatives markets 4.13-4.16 Fund management and investment funds 4.17 Insurance sector 4.18 Highlights of policy and market developments 4.19-4.23 CHAPTER 5:THE LABOUR SECTOR Overall labour market situation 5.1 Labour force and total em

6、ployment 5.2-5.3 Profile of unemployment 5.4-5.8 Underemployment situation 5.9 Profile of employment in establishments 5.10-5.11 Vacancies 5.12-5.13 Wages and earnings 5.14-5.16 Highlights of related measures and policy developments 5.17-5.18 CHAPTER 6:PRICES Consumer prices 6.1-6.3 Costs of factor