Second quarter GDP up 4.2%
Hong Kong’s economy grew moderately in the second quarter of 2008 with GDP rising 4.2%, after 7.3% growth in the first quarter, according to a Hong Kong Special Administrative Region Government report released August 15.

Government Economist K.C. Kwok said the moderation after a prolonged period of robust economic expansion indicates slowing growth in advanced economies and lingering financial market turbulence have dragged down Asia’s economic growth.

Merchandise exports decreased in June amid the increasingly challenging external environment, but grew moderately for the second quarter as a whole.

Chief Executive praises athletes for their Olympic performances
Hong Kong Chief Executive Donald Tsang officiated at a welcome home reception for the Hong Kong athletes in praise of their performances at the Beijing 2008 Olympic Games. Secretary for Home Affairs Tsang Tak-sing hosted the August 27 event.

Speaking at the reception at the Hong Kong Cultural Centre for the Hong Kong, China Delegation to the Games, Mr. Tsang said he admired the Hong Kong athletes’ vigorous training and continuous participation in various competitions that made them eligible to take part in the Olympic Games, adding that it was a golden opportunity to be part of the games.

Equestrian events are a resounding success
Hong Kong had passed a “searching examination” by successfully co-hosting the 2008 Olympic Equestrian Events, said the Chief Secretary for Administration Henry Tang.

Speaking after the last medal event of the Equestrian Events on August 22, Mr. Tang said he hoped that Olympic officials, competitors and the people of Hong Kong were happy with the result.

A total of 13 events were held successfully over 12 days at the equestrian venues at Sha Tin and Beas River.

Hong Kong serves as Olympic training base
Hong Kong was awash with international sporting talent in the run-up to the Beijing Olympics.

Apart from staging the Olympic Equestrian Events, Hong Kong was the training base of choice for athletes from more than a dozen countries who had their sights set on Olympic glory in Beijing.

World-class field hockey players, swimmers, badminton players and track and field athletes were among those who made final preparations in Hong Kong before heading to Beijing.