RTTNews - Thursday, Hong Kong's Financial Secretary, John Tsang said worst of the financial crisis may be over and there is now some light at the end of the tunnel.

In a speech at the Council of Asian Shopping Centre Conference, Tsang said there is still much work to be done, though the economy grew better than expected in the second quarter.

Hong Kong's GDP grew 3.3% in the second quarter of this year compared to the previous quarter. But, it fell 3.8% annually.

He said recent performance of Hong Kong's major trading partners is an encouraging news for the economy. As a result, Hong Kong's exports fell at a slower pace of 12.4% in the second quarter compared to a 22.7% fall earlier this year.

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