Hong Kong Offshore Investment and Business Guide: Volume 1: Strategic and Practical Information

Издательство: International Business Publications, USA, 2010 г.
978-0-7397-9365-7
Книгопечатная продукция
Объем: 260 стр.

Hong Kong is one of the world`s leading financial centres. Its highly capitalist economy has been ranked the freest in the world by the Index of Economic Freedom for 15 consecutive years. It is an important centre for international finance and trade, with one of the greatest concentration of corporate headquarters in the Asia-Pacific region, and is known as one of the Four Asian Tigers for its high growth rates and rapid industrialisation between the 1960s and 1990s. The Hong Kong Stock Exchange is the sixth largest in the world, with a market capitalisation of US$2.97 trillion as of October 2007, and the second highest value of initial public offerings, after London. The currency used in Hong Kong is the Hong Kong dollar, which has been pegged to the U.S. dollar since 1983.
The Government of Hong Kong plays a passive role in the financial industry, mostly leaving the direction of the economy to market forces and the private sector. Under the official policy of positive non-interventionism, Hong Kong is often cited as an example of laissez-faire capitalism. Following World War II, Hong Kong industrialised rapidly as a manufacturing centre driven by exports, and then underwent a rapid transition to a service-based economy in the 1980s. Hong Kong matured to become a financial centre in the 1990s, but was greatly affected by the Asian financial crisis in 1998, and again in 2003 by the SARS outbreak. A revival of external and domestic demand has led to a strong recovery, as cost decreases strengthened the competitiveness of Hong Kong exports and a long deflationary period ended.
The territory has little arable land and few natural resources, so it must import most of its food and raw materials. Hong Kong is the world`s eleventh largest trading entity, with the total value of imports and exports exceeding its gross domestic product. Much of Hong Kong`s exports consist of re-exports, which are products made outside of the territory, especially in mainland China, and distributed via Hong Kong. Even before the 1997 handover, Hong Kong had established extensive trade and investment ties with mainland China, and its autonomous status now enables it to serve as a point of entry for investment flowing into the mainland. At the end of 2007, there were 3.46 million people employed full-time, with the unemployment rate averaging 4.1%, the fourth straight year of decline. Hong Kong`s economy is dominated by the service sector, which accounts for over 90% of its GDP, while industry now constitutes just 9%. Inflation was at 2% in 2007, and Hong Kong`s largest export markets are mainland China, the United States, and Japan. As of 2009, Hong Kong is the fifth most expensive city for expatriates. Hong Kong is behind Tokyo, Osaka, Moscow, and Geneva but beat Zurich. Last year. Hong Kong was ranked sixth, and in 2007, Hong Kong was ranked fifth.
Hong Kong`s highly favorable geographical position and entrepot trading opportunities are wealth-generating assets. It has a superb sheltered natural harbor. Prior to mid 19th century, this had made Hong Kong a major haven for pirates before it became a British colony in 1841. Under British administration, it soon developed into a thriving legitimate international port. By the late 20th century. Hong Kong was the seventh largest port in the world and second only to New York and Rotterdam in terms of container throughput. The Kwai Chung container complex was the largest in Asia; while Hong Kong shipping owners were second only to those of Greece in terms of total tonnage holdings.

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