Hong Kong's Market
About Hong Kong
Hong Kong is a Special Administrative Region of the People’s Republic of China. Following British rule from 1842 to 1997, China assumed sovereignty under the ‘One Country, Two Systems’ principle, ensuring Hong Kong retains all its fundamental advantages that have underpinned its success as an international business, trade and financial hub.
Building on its traditional free market economic policy, Hong Kong has developed into a modern, vibrant and cosmopolitan services economy, underpinning the role of the city as a global business platform.
Hong Kong is located in eastern Asia, on the southeast coast of the People's Republic of China, facing the South China Sea. Hong Kong is a major gateway to China. Its population was approximately 7 million in 2010 and Chinese and English are the official languages of Hong Kong.
Hong Kong’s Economy
Hong Kong's economy is characterised by free trade, low taxation and minimum government intervention. It is a global centre for world trade, finance, business and telecommunications with its strategic location on the doorstep of the Mainland’s vast booming economy. Hong Kong is currently the world’s 10th largest trading entity. It operates one of the world’s busiest container ports in terms of container throughput, as well as one of the world’s busiest airports in terms of number of international passengers and volume of air cargo handled. Hong Kong is also the world’s 13th largest banking centre in terms of gross external positions of banks, and the 6th largest foreign exchange trading centre. Its stock market is the 3rd largest in Asia in terms of market capitalisation.
As an international business hub, Hong Kong has a business-friendly environment with the rule of law, free trade and free flow of information, open and fair competition, a well-established and comprehensive financial network, a superb
transport and communications infrastructure, sophisticated support services, and a flexible labour market with a well-educated and highly motivated workforce complemented by a pool of efficient and energetic entrepreneurs. Moreover, it has substantial foreign exchange reserves, a fully convertible and stable currency, prudent fiscal management and a simple tax system with low tax rates.
Financial services, trading and logistics, tourism, and producer and professional services are the Four Key Industries in the Hong Kong economy. They have been the driving force of Hong Kong's economic growth, providing impetus to growth of other sectors, and creating employment.
Advantages of Doing Business in Hong Kong
Hong Kong is an ideal place to invest or to do business. It is characterised by:
- A free trade and investment policy
- A robust and efficient financial market
- Complete freedom of capital movement
- Excellent law and order
- Best location and transport links across Asia Pacific and internationally
- Gateway to China
- 3rd lowest tax in the world
- World-class transportation, telecommunications, IT connectivity and utilities
- International hub for logistics & shipping
- Productive and skilled local workforce
- Minimal import/export restrictions and tariffs facilitates and encourages trade
- Hong Kong judged the world's freest economy for 13 consecutive years
- Hong Kong has world's 2nd lowest costs of doing business and business risk
Hong Kong's Investment Opportunities
Hong Kong attracts and retains foreign direct investment and facilitates overseas and mainland companies to set up and expand business in Hong Kong. It provides a wide range of investment and business opportunities in different sectors such as servicing, retail, trading, financial, information and communication technology, tourism and transportation.
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