Hong Kong’s economy has grown in the first quarter of 2023, says Chief Executive John Lee. This marks the end of a year-long closure due to pandemic restrictions. The quarterly GDP grew 2.7% year-on-year, reversing contractions in the previous four quarters. A large-scale series of promotional events boosted tourism and consumption, contributing to the economy’s improvement. The mainland economy’s fast pace growth and the local aviation capacity speeding up its recovery could lead to a better economy in the second quarter. Hong Kong recorded one of the world’s highest per capita Covid death rates as it dealt with a wave of the highly transmissible Omicron variant early last year. A series of restrictions on travel and social gatherings saw parts of its economy shut down, leading to a drop in GDP in all four quarters in 2022. At the beginning of 2023, Hong Kong’s finance chief launched a US$97 billion budget aimed at resuscitating the city’s fortunes. This involved cash handouts for more than six million people, tax breaks, and a new campaign to revive tourism in the city.