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In 2009, Hong Kong's real economic growth fell by 2.8% as a result of the Great Recession. [33] By the late 20th century, Hong Kong was the seventh largest port in the world and second only to New York City and Rotterdam in terms of container throughput. Hong Kong is a full Member of the World Trade Organization. [34]
Following in the footsteps of Hong Kong; South Korea, Taiwan, and the city-state of Singapore soon industrialized thanks to capitalist and open policies by their efficient governments. By 1997, Hong Kong, Taiwan, and South Korea joined Japan as developed economies in East Asia, while Singapore became the sole developed economy in Southeast Asia.
The East Asian model, [1] pioneered by Japan, is a plan for economic growth whereby the government invests in certain sectors of the economy in order to stimulate the growth of specific industries in the private sector. It generally refers to the model of development pursued in East Asian economies such as Japan, South Korea, Hong Kong and ...
Governor Sir Murray MacLehose commissioned McKinsey & Company to conduct a study on the structure of the Hong Kong Government. Sir MacLehose subsequently restructured the Government Secretariat pursuant to recommendations in the McKinsey Report in 1973. Branches of the Government Secretariat under the Colonial Secretary: Environment Branch (-1981)
HONG KONG (Reuters) -Buffeted by years of upheaval and China's economic slowdown, Hong Kong's leader on Wednesday outlined his annual policy vision focused on kick-starting the ailing property ...
The Government of the People's Republic of China (PRC), from which the Hong Kong government is financially independent, is responsible for Hong Kong SAR's defence and foreign policy, while decisions made by the Standing Committee of the National People's Congress can, in certain circumstances, override territorial judicial processes.
The government will also ease property lending policies to boost housing demand. Real estate and related industries play a key role in Hong Kong’s economy, accounting for as much as a fifth of ...
The Office of the Government Economist (OGE), formerly known as the Economic Analysis and Business Facilitation Unit, of the Hong Kong government was formed under the Financial Secretary's Office on 1 June 2004, when the HKSAR Government merged the Economic Analysis Division (under the Financial Services Branch of the Financial Services and the Treasury Bureau) and the Business Facilitation ...