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The economy of Hong Kong is a highly developed free-market economy. It is characterised by low taxation , almost free port trade and a well-established international financial market. [ 15 ] [ 16 ] Its currency, called the Hong Kong dollar , is legally issued by three major international commercial banks, [ 17 ] and is pegged to the US dollar .
Hong Kong [e] is a special administrative region of China.With 7.4 million residents of various nationalities [f] in a 1,104-square-kilometre (426 sq mi) territory, Hong Kong is the fourth most densely populated region in the world.
The Mainland and Hong Kong Closer Economic Partnership Arrangement, or Closer Economic Partnership Arrangement (CEPA) for short, is an economic agreement between the Government of the Hong Kong Special Administrative Region and the Central People's Government of the People's Republic of China, signed on 29 June 2003.
“Hong Kong is a barometer of the economic activities in China," said Patrick Ip, managing director at China-ASEAN Investment Cooperation fund. "Because of the recent China economic downturn and ...
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]
Hong Kong remained a part of the UK and overseas colonies from 1949 until it transitioned its colony to a British dependent territory in 1983. The economy was the main concern after the Chinese Civil War. Hong Kong welcomed business from both the PRC and Taiwan. Investments from Taiwan were particularly lucrative, and Taiwanese interests were ...
Chengdu – Hong Kong Economic and Trade Office in Chengdu. Chongqing – Chongqing Liaison Unit; Xi'an – Shaanxi Liaison Unit; Dubai - Hong Kong Economic and Trade Office in Dubai Member states of the GCC [20] Geneva – Hong Kong Economic and Trade Office, Geneva. Responsible for the WTO and covering also the ISO, the Trade Committee of the ...
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 ...