'HK acts as a super adaptor for mainland standards'

Financial Secretary Paul Chan said Hong Kong can help drive the internationalisation of national technical standards by acting as a "super adaptor" between mainland and international markets.

Speaking on a new RTHK TV programme, On Broadcast Drive, the financial chief noted that mainland standards are increasingly being accepted globally.

"Taking steel as an example, some of these ultra‑high‑strength steel products are among the most advanced in the world. In this regard, we can help extend the global reach of national standards to other regions," he said.

"In other words, by taking this approach, high‑quality mainland products can be better recognised by the rest of the world."

He said he believed Hong Kong not only plays the role of "super connector" and "super value-adder" but can also acts as a "super adapter".

On the local economy, Chan noted that Hong Kong's retail sales have seen a year‑on‑year increase for 13 straight months.

Chan also pointed out that the struggling catering sector recorded business growth of around one per cent over the past few months.

However, he cautioned that inflation could rise in the second half of this year, as the ongoing conflicts in the Middle East continue to disrupt global supply chains.

"But overall speaking, the situation is still manageable," he said.

"Looking back at the figures over the past two to three months, inflation increase is relatively moderate. By the end of the year, it may reach around two per cent."

The financial chief added that the government would closely monitor developments and roll out further support measures if necessary.

Edited by Altis Wong ...