It's difficult. We need to boost the competitiveness of Hong Kong workers. That could be done by education but that's a medium-term solution.

It seems the economy is still in pretty good shape. Net exports are still a major contributor.

It's very difficult to see how China can decrease its trade surplus in the short term. China is very self- sufficient in terms of consumer goods and electronics and while they can buy more Boeing and Airbus jets, they are already doing that and still recording a surplus.

The government would like to see a bigger push from the private consumption side to drive the economy, ... is pretty good news for some of these foreign companies.

Quality property at the top-end of the market is still pretty scarce.

They have been doing a lot of domestic traveling in the last couple of years and they are very willing to come out and spend and enjoy themselves.

People have more faith in Hong Kong's logistics. Low value products are shipped directly out of Shenzhen to the world, higher value products come out through Hong Kong. It's the guarantee of safety.

Both domestic and tourism spending remained very robust during the period, consistent with the local consumption picture in Hong Kong and higher tourist arrivals. Despite the volatility in retail sales figures in recent months, the trend is still pretty strong.