The Financial Secretary's Office has refuted a news report claiming Financial Secretary John Tsang said the Mainland’s economy was facing its worst period in 20 years.
In a statement issued today, it said Mr Tsang, in his public comments on the global economy, noted the major economies around the world, including the Mainland, were facing downward pressure in light of the bleak macroeconomic condition.
He said the Mainland, being the second-largest economy and the largest manufacturing and trading nation in the world, was still the major driving force of the global economy, contributing to more than a quarter of global economic growth.
He also said the Mainland’s economy is fundamentally sound and its authorities have the capability to deal with future challenges.
The statement noted Mr Tsang said the implementation of the nation's 13th Five-Year Plan and the Belt & Road initiative can offer invaluable opportunities to Hong Kong, and it will seize these opportunities and meet the challenges arising from the unstable external environment.
