Hong Kong’s Economy Is Finally Recovering, But Only for the Rich

Hong Kong’s emerging recovery from an historic recession fueled by the pandemic and political protests is throwing into stark relief the deepening wealth imbalances between the city’s working class and elite.

The economy’s return to growth in the first half of the year has been led by a combination of resurgent trade, property prices back to near record-highs in the world’s most expensive housing market, and a resilient financial services industry backed by a surge in initial public offerings.