Hong Kong's economy shows signs of recovery as budget deficit turns to surplus

Hong Kong's government reported its operating budget returned to a surplus, marking a turnaround from a string of deficits. The city's economy grew 3.8% in the fourth quarter, and a boom in stock market listings helped improve its financial position.

Officials said Hong Kong is near the end of its budget deficit era but caution is still needed. The government also outlined plans to contribute to China's national development plan and to tap a long-standing currency defense fund for the first time in decades.