Tag Archives: spending

Hong Kong’s surprise surplus: were numbers ‘distorted’ to avoid deficit?

Financial Secretary Paul Chan Mo-po’s explanation for how Hong Kong turned an anticipated budget deficit into a surplus amounted to a “distortion” of public accounts that helped the government justify its tax policies and boost investors’ confidence, economists said.Some took issue with including the proceeds from government bonds and the …

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China’s weak consumption over Lunar New Year may signal ‘worsening economy’

Consumption over the week-long Lunar New Year holiday in China failed to get anywhere near pre-pandemic levels, and some analysts warn that the downtrend could signal a worsening economy.During the holiday period that ended on Sunday, Chinese tourists took 251 million trips and contributed 289.2 billion yuan (US$45.4 billion) in …

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