HONG KONG, May 3 (Xinhua) -- Paul Chan, financial secretary of the Hong Kong Special Administrative Region (HKSAR) government, said on Sunday that Hong Kong's GDP growth in the first quarter of 2026 is expected to surpass the revised 4 percent in the previous quarter, marking the fastest pace in recent five years.

Chan explained that the improvement is driven by stronger private consumption, robust exports, and steady fixed investment. Tourism also remained robust, with visitor arrivals rising 17 percent year-on-year to over 14.3 million. For the full year, inbound visitor arrivals may exceed 53.8 million, lifting related spending to more than 240 billion HK dollars (about 30.63 billion U.S. dollars), up 9.5 percent from last year.

Data showed that Hong Kong residents' daily consumption expenditure has increased year-on-year for six consecutive quarters. In the first quarter, retail and catering-related spending rose 5.2 percent year-on-year. Export performance also remained strong during the same quarter, with export value rising 32 percent, which is the 25th consecutive month of growth and the best quarterly performance in five years, he added.

Chan emphasized that Hong Kong's economy is advancing in both quality and quantity. In particular, efforts must be made to accelerate the application of artificial intelligence across various sectors and strengthen talent training to enhance resilience against global economic uncertainties and impacts, and drive the economy toward the development of higher quality. (1 U.S. dollar equals 7.83 HK dollars) ■