China-Hong Kong/Deficit/Carrie Lam

HKSAR facing 1st budget deficit in 15 years: Carrie Lam

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Shotlist


Hong Kong, China - Dec 3, 2019 (HKTVB - No access Chinese mainland/Hong Kong)
1. Chief Executive of China's Hong Kong Special Administrative Region (HKSAR) Carrie Lam walking to podium at briefing
2. Lam at briefing
3. SOUNDBITE (Chinese) Carrie Lam, Chief Executive of HKSAR (partially overlaid with shot 4):
"The deficit is inevitable, which is the first in 15 years, meaning the last fiscal deficit our HKSAR government had appeared in 2003-2004. I really hope that every one of us in Hong Kong should cherish the life we have built in Hong Kong over the years and the strength of Hong Kong, not allowing it to be jeopardized again. So to subdue violence remains our top priority."
++SHOT OVERLAYING SOUNDBITE++
4. Lam at briefing
++SHOT OVERLAYING SOUNDBITE++
5. Lam leaving

Storyline


The Hong Kong Special Administrative Region (HKSAR) is facing the first budget deficit since 2004, and to subdue violence is still on the top of the agenda, said Chief Executive Carrie Lam at a press briefing on Tuesday.

She said the government will release new measures to boost the economy of the SAR.

"The deficit is inevitable, which is the first in 15 years, meaning the last fiscal deficit our HKSAR government had appeared in 2003-2004. I really hope that every one of us in Hong Kong should cherish the life we have built in Hong Kong over the years and the strength of Hong Kong, not allowing it to be jeopardized again. So to subdue violence remains our top priority," she said.

The HKSAR government has cut its gross domestic product forecast for 2019 to a negative 1.3 percent, which will be the region's first annual decline since 2009. The Hong Kong economy dropped 2.9 percent in the third quarter, sharply from 0.4-percent growth in the second quarter.

Goods exports volume of Hong Kong fell about 10 percent year on year in October, and services exports went down 13.8 percent, marking the largest decline since the second quarter of 2003.

Retail sales decreased 24.3 percent from a year ago in October, the largest decline for a single month on record. The combined turnover of restaurants lost 13.6 percent year on year in the third quarter, the biggest since the second quarter of 2003. Visitors to Hong Kong tumbled 43.7 percent year on year in October.

The job market also suffered as the unemployment rate rose to 3.1 percent during the August-October period. The unemployment rate in the catering sector even surged to a six-year high of 6.1 percent.

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China-Hong Kong/Deficit/Carrie Lam

HKSAR facing 1st budget deficit in 15 years: Carrie Lam

Dateline : Dec 3, 2019

Location : Hong Kong,China

Duration : 1'00

  • English
  • Français
  • العربية
  • Pусский
  • Español
  • 日本語
  • Deutsch


Hong Kong, China - Dec 3, 2019 (HKTVB - No access Chinese mainland/Hong Kong)
1. Chief Executive of China's Hong Kong Special Administrative Region (HKSAR) Carrie Lam walking to podium at briefing
2. Lam at briefing
3. SOUNDBITE (Chinese) Carrie Lam, Chief Executive of HKSAR (partially overlaid with shot 4):
"The deficit is inevitable, which is the first in 15 years, meaning the last fiscal deficit our HKSAR government had appeared in 2003-2004. I really hope that every one of us in Hong Kong should cherish the life we have built in Hong Kong over the years and the strength of Hong Kong, not allowing it to be jeopardized again. So to subdue violence remains our top priority."
++SHOT OVERLAYING SOUNDBITE++
4. Lam at briefing
++SHOT OVERLAYING SOUNDBITE++
5. Lam leaving


The Hong Kong Special Administrative Region (HKSAR) is facing the first budget deficit since 2004, and to subdue violence is still on the top of the agenda, said Chief Executive Carrie Lam at a press briefing on Tuesday.

She said the government will release new measures to boost the economy of the SAR.

"The deficit is inevitable, which is the first in 15 years, meaning the last fiscal deficit our HKSAR government had appeared in 2003-2004. I really hope that every one of us in Hong Kong should cherish the life we have built in Hong Kong over the years and the strength of Hong Kong, not allowing it to be jeopardized again. So to subdue violence remains our top priority," she said.

The HKSAR government has cut its gross domestic product forecast for 2019 to a negative 1.3 percent, which will be the region's first annual decline since 2009. The Hong Kong economy dropped 2.9 percent in the third quarter, sharply from 0.4-percent growth in the second quarter.

Goods exports volume of Hong Kong fell about 10 percent year on year in October, and services exports went down 13.8 percent, marking the largest decline since the second quarter of 2003.

Retail sales decreased 24.3 percent from a year ago in October, the largest decline for a single month on record. The combined turnover of restaurants lost 13.6 percent year on year in the third quarter, the biggest since the second quarter of 2003. Visitors to Hong Kong tumbled 43.7 percent year on year in October.

The job market also suffered as the unemployment rate rose to 3.1 percent during the August-October period. The unemployment rate in the catering sector even surged to a six-year high of 6.1 percent.

ID : 8128879

Published : 2019-12-03 11:53

Last Modified : 2019-12-03 18:09:23

Source : HKTVB

Restrictions : No access Chinese mainland/Hong Kong

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