Edward Yau, Hong Kong's secretary for commerce and economic development, said trade has been a 'very strong catalyst' of growth but tourism remains weak.
Hong Kong's economy has rebounded sharply after being hit by the Covid-19 pandemic, but it is not out of the woods just yet, said Secretary for Commerce and Economic Development Edward Yau.The Hong Kong economy grew 7.9% in the first quarter of 2021 compared to a year ago — the first economic expansion after six consecutive quarters of contraction.
"The distribution of this rebound is rather uneven," Edward Yau, Hong Kong's secretary for commerce and economic development, told CNBC's "Yau explained that imports and exports have been a "very strong catalyst" of growth in the last few months, with overall trade hitting record levels in some months. However, retail sales are moderating and tourism is still struggling to recover, he said.
A man wearing a protective face mask stands on Kowloon's Tsim Sha Tsui waterfront that faces Victoria Harbour in Hong Kong.Before the pandemic, Hong Kong — a Chinese-ruled semi-autonomous region — was rocked by
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