Wang Linggui, who’s also a member of the Chinese People’s Political Consultative Conference (CPPCC), felt Hong Kong remains in a strong position despite an estimated deficit of HK$87.2 billion in the fiscal year ending March 31.
“Hong Kong’s economic situation is not weak among developed economies in the world. Its economic growth exceeded two percent last year,” he told reporters in Beijing.
“A deficit of [around] HK$100 billion shouldn’t be a big deal for an economy of Hong Kong’s size.”
Wang noted the central government rolled out preferential policies for Hong Kong last year, adding more will come in the future.
For instance, he said a multi-entry visa scheme will continue to expand to make it easier for mainland residents to visit the SAR.
But he urged Hong Kong residents to be prepared for a rise in arrivals, including the need to draw up crowd control measures.
