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ADB predicts HK growth to hit 3.2%

Hong Kong's economy will grow 3.2 percent this year, the Asian Development Bank forecast on Wednesday. Though the forecast is slightly lower than the actual growth of 3.8 percent in 2017, it is still higher than the actual growth of 2.1 percent in 2016, ADB Chief Economist Yasuyuki Sawada said. The economic growth rate of Hong Kong will be 3 percent in 2019, according to the report. Hong Kong's growth accelerated in 2017, propelled by a strong external environment and solid domestic demand, and a tight labor market and recovering inbound tourism should sustain robust growth this year and next, though some moderation is expected, the chief economist said.

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