Chen Maobo: Hong Kong unemployment rate data lag does not reflect the real situation, the job market is just turning

　　China News Agency, Hong Kong, May 22. The Financial Secretary of the Hong Kong Special Administrative Region Government, Chen Maobo, published a blog on the 22nd that the unemployment rate announced by the Hong Kong Special Administrative Region Government last week increased by 0.4% to 5.4%, which is a new high since April to June last year. However, the data lags behind and fails to immediately reflect the improvement in market conditions.

He pointed out that social distancing measures have been further relaxed, the atmosphere in shopping malls and restaurants has been lively recently, and the job market is gradually improving.

　　Chen Maobo also said in his blog that Hong Kong's basic composite consumer price index in the first quarter of this year rose by 1.6% year-on-year, which was moderate on the whole, but the price increases of clothing, food, and travel were all higher than the overall figure, which is estimated to be disrupted by the new crown pneumonia epidemic. The logistics and transportation are affected, and the supply of fresh vegetables and other foods is affected.

However, according to the current trend, the upward momentum of food prices is expected to slow down.

　　He said that Hong Kong's economy will gradually recover in the rest of this year, so there is no need to be too pessimistic about the outlook, otherwise it is easy to miss the improving momentum of the economy or emerging opportunities.

However, when the economy is just beginning to stabilize, it is necessary to work together to continue to control the epidemic in an all-round way.

　　Chen Maobo said that Hong Kong cannot ignore the importance of strictly controlling the epidemic because of the economy, nor can it ignore the planning for future development because of the epidemic.

He looks forward to the financial summit to be held in November this year, not only to strengthen contacts with top foreign and mainland financial industry figures and institutions, but also to show them how Hong Kong can continue to remain a vibrant and An international financial and business center of opportunity.

(Finish)