Hong Kong's economy is rebounding and the budding growth is gaining strong momentum, Financial Secretary Henry Tang says.

Concluding the year on a bright note today at the Exporters' Association Christmas Luncheon, Mr Tang said: "2003 is no doubt a roller-coaster year for Hong Kong. But I have always had a fundamental faith in our community and our people. And what we have witnessed in the past few months is again how Hong Kong's resilience and can-do spirit outshines the challenges."

With the signing of CEPA, the launch of the individual visit scheme for Mainland travellers, and the personal reminbi businesses trial, Mr Tang said Hong Kong is continuing to grow.

"I am cautiously optimistic that Hong Kong's economy has turned the corner, and our budding growth is gaining strong momentum. What we now have to do is to make the best of these opportunities to sustain our economic recovery."