Most accountants see happy days ahead in HK

A survey last month of members of CPA Australia in China found that most of the 487 respondents see the outlook for Hong Kong's economy next year as positive. Only 7.2 per cent see the outlook as poor, reflecting concerns the city may suffer in the event of a double-dip recession in Europe or the US. Inflation, the bursting of asset bubbles and rising business costs were considered the biggest threats to economic growth. More than half expect property prices to rise next year and the Hang Seng Index to end 2011 at between 24,000 and 27,999 points.