The revision of GDP forecast growth rate has shown that Hong Kong has bounced back quickly after the SARS outbreak, Financial Secretary Henry Tang says, adding that he is prudent and optimistic on the city's economic outlook.

Speaking to the media in Beijing this afternoon, Mr Tang said he believed there will be improvements to Hong Kong's employment situation in the end of the year.

In a separate development, Government Economist Tang Kwong-yiu pointed out that Government revenue may be affected by SARS, which also has an impact on GDP.

He said the impact of SARS on Government revenue will be known early next year, and he hoped that the impact will be short-lived.

On the Closer Economic Partnership Arrangement, Mr Tang said it will bring Hong Kong with lots of business opportunities.

He revealed that details of the arrangement are being worked out, and will be made public around September.  As the arrangement will be implemented in stages next year and in full operation in 2006, its effect on Hong Kong's economy will not be seen shortly, he added.

As regards the "individual visit" scheme, Mr Tang said it helps boost tourism, employment and the economy.