【中大學者:GDP復甦是假象?】大量數據拆解香港經濟深層危機:消費外流、零售倒退24.5%、關店潮、高地價高租金束縛|李兆波點破關鍵|

Wally Magazine November 5, 2025
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Wally Magazine

@wallymagazine

About

Wally Magazine 是一個以在線雜誌形式呈現的頻道,於2023年5月加入YouTube夥伴計畫,並開始嘗試創作和發布內容。直至2024年3月20日,頻道才正式投入創作,致力於每日更新影片,提供資源評論和製作精彩的內容。 我們的目標是為觀眾提供有趣而引人入勝的內容,通過香港的新聞、評論及對樓市、經濟、零售、時事、科技和突發事件的深入分析,我們着重風險評估討論、Fault Finding、同 Risks Identification,希望找出挑戰、問題所在! 即係就算係大好友想入市,對佢哋嚟講都非常有價值!所以觀眾比較鍾意睇呢啲,無論樂觀定係悲觀都會關注呢一方面嘅風險。讓大家及時了解風險、挑戰、探索各樣問題所在,最新的新聞和趨勢,同時發掘思想啟發性的討論。 副刊內容 【泉知言】 由阿泉主持,他是Wally Magazine的主播之一,以廣泛的興趣和專長著稱。阿泉是一位電影迷,對各種類型的電影都有深入的了解和熱情。此外,他還是玩具 Figure 收藏家,擁有大量的收藏品,並經常分享他的收藏心得。憑藉對社會時事的敏銳觸覺,阿泉在節目中提供獨到的見解和評論,以幽默的方式反映和諷刺時弊,讓觀眾能夠輕鬆從不同角度了解當下的社會動態。 【Sandy 快樂旅途】 Sandy快樂旅圖 Sandy 是一位獨立自主的現代女性,追求高質品味享受、敢於冒險創新的生活方式。她喜愛分享衣食住行、吃喝玩樂、美容保養以及旅遊感受。 人生就如一張白紙,單一、雙色及多元色系任君選擇,所遇到的人事就如畫筆,一點一劃,構成獨有的人生圖畫。 她旨在鼓勵觀眾追求自我價值和自主樂趣,認為每個人都可以為自己繪畫一幅獨特的人生圖畫。 曾擔任: 🎙️ 【Happy Single 單身快活谷】 主播 📌 英國地產代理 👩🏻‍💼 香港多間公營機構公關專才 🏡 日本旅居倡導者 中文免責聲明 本節目中的內容僅代表嘉賓個人意見,並不代表 Wally Magazine 或其相關團隊的立場和觀點。 Wally Magazine 不對節目內容的準確性、完整性或合法性負責,亦不承擔任何由於節目內容引起的責任或法律責任。影片中嘅資訊係參考網上資料以及其他各媒體,但並不保證完全 100% 準確,觀眾需自行判斷及考證。

Video Description

《Wally Magazine》2025年11月4日|第3條片統計處顯示:2025年Q1實質增長約3%、Q2約3.1%。表面看似「復甦」,但零售與餐飲、旅遊、股市、樓市等多項指標仍與疫前有明顯差距——復甦廣度與深度不足,民生未明顯受惠。李兆波直言:GDP回來,但消費沒跟上。 本集重點 * 🧮 增長來源:投資回升、貨物與服務出口改善,帶動GDP連續兩季約3%增長。 * 🛍️ 零售倒退:2025年首8個月零售總額約2,451億元,較2018年同期少24.5%,復常未至。 * 🌉 消費外流:港人「北上/海外」成常態;AlipayHK活躍戶中,逾2/3成為內地消費常客,近半流向服務,28%用於零售。 * 🏪 關店潮:上半年逾300間零售店結業,餐飲佔約七成;戲院收入按年跌16%、多間停業。 * 🧳 旅客結構變化:以即日來回、低消費為主,未能有效帶動本地零售餐飲。 * 📈 資本市場有限回暖:港股高位僅見約26,000點,與歷史高位33,000點仍有距離,投資信心未全面恢復。 * 🧱 結構性掣肘:高地價→高租金+高人力成本;「地稅性質」固定開支沉重,沒生意照樣要付租與稅,企業難以喘息。 * 🧮 財政兩難:面對結構性財赤,不宜逆勢加稅;應景氣期積穀防饑、審視開源節流組合。 * 🩺 李兆波觀點:香港需要的不是單一GDP指標,而是全面「體質檢查」——從稅制、地價、成本結構到產業升級。 結論現時更像是**「數據復甦、體感不振」:GDP短線改善,但內需、零售、服務、資本市場與就業質素未同步。要走出困局,關鍵在於降低結構性成本+提升消費與產業含金量**,而非只盯住單一增長數字。 ——歡迎留言:你最先感受到的是哪一項壓力?租金、人力成本,還是生意額?

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