HONG KONG: Hong Kong will continue to expand its market reach in the second half of this year to deepen ties with investors in Europe, the United States, Australia and the Middle East, Hong Kong Special Administrative Region Financial Secretary Paul Chan said Sunday.

Hong Kong's overall economic situation is stable, with a 3.3 percent year-on-year growth in GDP in the second quarter, Chan noted in his blog. While changes in consumer spending patterns and a relatively strong Hong Kong dollar put some pressure on private consumption, companies can meet the challenges and seize new opportunities by creating new business models and promoting high-quality products and services, he said.