Secretary for Financial Services & the Treasury Prof KC Chan says he is confident in Hong Kong's ability to manage any kind of economic adjustments, adding he is not worried about economic growth for this year.

Prof Chan told reporters today that GDP growth in the first quarter was a bit low and very much affected by the external economic situation, particularly the European market.

He said Hong Kong now has full employment and people have enjoyed very good wage increases in recent years, domestic consumption is also strong, resulting in a good foundation to adjust to economic changes.