Global Financial Market Review

Strong export growth and a surge in domestic spending have lifted Hong Kong's economy to its best performance in almost seven years.

The 4.7-percent GDP growth for the first quarter of the year comfortably beat market expectations, and is the highest figure since the second quarter of 2011.

Government economist Andrew Au said the key drivers were the growth in exports to and from the mainland, the arrival of more tourists, and a booming financial sector.

Despite the strong GDP growth, the government's keeping its forecast for the entire year at between 3 and 4 percent.

Au said the threat of a trade war between China and the United States makes for an uncertain future. But he was optimistic that talks between the leaders of the two countries will help cool the situation.