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The Economic Freedom of the World Index lists Hong Kong as the freest economy, with a score of 8.58 based on data from 2022. [24] Hong Kong's economic strengths include a sound banking system, virtually no public debt, a strong legal system, ample foreign exchange reserves with assets of US$481.6 billion represent over six times the currency in ...
The figures are from the International Monetary Fund (IMF) World Economic Outlook Database, unless otherwise specified. [1] This list is not to be confused with the list of countries by real GDP per capita growth, which is the percentage change of GDP per person recalculated according to the changing number of the population of the country.
Due to more people working in the tertiary sector, Hong Kong's economy grew increasingly reliant on service industries. [41] Hong Kong Science Park. The finance and real estate industries bloomed in the 1990s. However, the dependence on such industries caused a loss of competitiveness between products produced by Hong Kong-based manufacturers ...
The Census and Statistics Department (C&SD; Chinese: 政府統計處) is the provider of major social and economic official statistics in Hong Kong. It is also responsible for conducting Population Census and By-census in Hong Kong since 1971.
Hong Kong’s economy has struggled to regain momentum since it reopened after more than two years of self-imposed Covid isolation. In 2023, its GDP grew 3.2%, thanks to a low base in 2022, but it ...
The Hong Kong economy was the first out of the four to undergo industrialization with the development of a textile industry in the 1950s. By the 1960s, manufacturing in the British colony had expanded and diversified to include clothing, electronics, and plastics for export orientation . [ 10 ]
Anti-government protests in 2019, followed by Beijing’s swift imposition of a sweeping national security law in 2020 and three years of draconian COVID lockdowns prompted an exodus of tens of ...
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.