Hong Kong leader John Lee to give address at 0300 GMT Wednesday
Lee says focus of address will be on economic development
Economy of financial hub has struggled to recover since COVID

HONG KONG, Oct 15 Reuters Hong Kong is expected to announce measures to boost the city39;s economy in its annual policy address on Wednesday, including slashing liquor tariffs, as it seeks to revive the financial hub which has been struggling to recover since the pandemic.

Hong Kong39;s small and open economy has felt the ripple effects of a slowdown in the Chinese economy. The city39;s economy expanded by 3.3 in the second quarter from a year earlier, and is forecast to grow 2.53.5 for the year.

Although tourism numbers have rebounded since COVID, with 46 million visitors expected this year, consumption and retail spending remain sluggish, while stock listings have dried up and capital flight remains a challenge.

In February, Hong Kong39;s financial secretary announced new measures spanning property, tourism and financial services, noting headwinds including a complex geopolitical environment and ballooning budget deficits.

But in a meeting last month between China39;s top official on Hong Kong affairs, Xia Baolong and Hong Kong leader John Lee, Xia emphasised a need for further reforms to spur economic growth, in line with China39;s national strategy.

He called on the Hong Kong government to unite and lead all sectors of society to promote reforms, while urging businessmen to help…