(MENAFN) Many recent reports shows that Hong Kong's economy will be faced with arising difficulties, thus is expected to slow down, despite the fact that the city's economy expanded 2.6 percent in the first half of the year.
Hong Kong's Hang Seng Index of shares has tumbled 18 percent since the end of June as mainland equity markets declined amongst signs China's economy is shrinking at a faster pace than previously thought.
"In the second half of the year, Hong Kong still needs to face the challenges brought by the fluctuating financial markets, weak foreign trade and slower tourism," said a Financial Secretary in his blog on Sunday.
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