The Investment Page: Hong Kong Economic growth Beats Expectations

Hong Kong's economic growth beat estimates in the fourth quarter and Financial Secretary John Tsang forecast an expansion of as much as 5 percent this year as he moved to counter the risk of a property bubble. Gross domestic product rose a seasonally adjusted 2.3 percent from the previous three months. "It is good that the government is taking a pre-emptive move before a risk in the property market forms," said Kelvin Lau, a Hong Kong-based economist with Standard Chartered Bank.