IMF lifts HK growth forecast to 3.8 percent this year

Financial Secretary Paul Chan said the International Monetary Fund, or IMF, lifted its Hong Kong growth forecast to 3.8 percent this year, while the government noting that it is even more optimistic about the economy.

The FS noted on his blog that the city should remain aware of geopolitical risks and energy supply issues, stressing that Hong Kong should take advantage of the "one country, two systems" principle to work in tandem with the mainland's innovative development.

Chan also said global financial leaders are set to share their views and engage in dialogue at the APEC Finance Ministers' Meeting in Hong Kong later this month.

This as the IMF's latest forecast for global economic growth indicated a drop to 3.1 percent this year compared to 3.5 last year.

Growth in Asia, however, continues to outpace the rest of the world.