Hong Kong’s economy contracted by 4 percent in the first quarter, disrupting the growth trend of the previous four quarters. The Hong Kong government adjusted its full-year economic growth forecast to nearly half of the original forecast. The economic contraction coincided with a sharp rise in the unemployment rate to 5.4 percent, the highest level since June last year. Some analysts expect the unemployment rate to deteriorate further. A survey showed that the Hong Kong government followed the mainland’s Zero-COVID Policy and imposed strict travel restrictions and other measures that affected market sentiment and also presented challenges for Hong Kong businesses….