China WTO to boost HK banks, GDP growth - HKMA

China's looming entry into the World Trade Organisation (WTO) will boost financial services and raise Hong Kong gross domestic product (GDP) growth by upto 1%, according to the Hong Kong Monetary Authority, the territory's de facto central bank.

"Hong Kong's annual GDP will be boosted by between 0.5% to 1% per year through re-export trade as a result of China's entry into WTO," Chief Executive of the HKMA Joseph Yam said in a speech on Wednesday. "We have every reason to expect activities whic

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