The Chief Executive's Council of Advisers on Innovation & Strategic Development held its seventh meeting today to discuss Hong Kong’s current situation.

The council was briefed on the recent performance and near-term outlook of the Hong Kong economy. 

Members noted that the economic conditions in the first half of 2019 were the weakest since the recession in 2009. The real Gross Domestic Product growth forecast for 2019 was revised downwards to 0% to 1%.

With the escalating China-US trade tensions, softened global economic growth and weak local private consumption and investment, the risk of the Hong Kong economy entering a recession had increased notably. 

In view of the gloomy economic outlook and the negative impact of recent social incidents, members deliberated on measures to safeguard the local economy's stability.

Members also gave their views and suggestions on the 2019 Policy Address.

To address the challenges faced by Hong Kong, they advised that bold policies and effective measures should be taken forward to support the economy, improve people's livelihood, and rebuild Hong Kong’s international image.