Hong Kong Eyes Fastest Growth in 3 Years as Fed Tapers: Economy

Hong Kong’s economy is set to expand at the fastest pace in three years, even as the winding back of U.S. monetary stimulus adds to the risk of volatility in capital flows, the government said.

Growth may be between 3 percent and 4 percent, Financial Secretary John Tsang said in his budget speech today, after a 2.9 percent expansion in 2013. Gross domestic product rose 1.1 percent in the fourth quarter from the previous three months, the fastest pace in a year and matching the median estimate in a Bloomberg News survey of economists.