Economy of Hong Kong - Wikipedia
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.
China's crackdown is damaging Hong Kong's economy
Mar 20, 2024 · China's crackdown and trade wars have tarnished Hong Kong's status as a financial gateway, prompting an exodus of investors and challenging the city's autonomy.
Is the Hong Kong economy really in demise? - ThinkChina
Mar 18, 2024 · The rapid growth of the mainland's economy over the past 30 years has been the biggest driving force for Hong Kong's financial and economic development. With China's push for the Belt and Road Initiative and its integration with the global economy, the RMB internationalisation will be enhanced. It will be of enormous benefit to the Hong Kong ...
The Fall of Hong Kong: How China-US Rivalry Ended a …
Mar 16, 2024 · Economically, Hong Kong as a free port separated from China meant that Beijing could make best use of it to develop international trade. This function became especially critical after the...
Economic and Trade Information: Hong Kong | HKTDC Research
Jan 2, 2025 · Hong Kong is one of the most services-oriented economies in the world, with services sectors accounting for 93.4% of the GDP in 2022. According to World Trade Organization (WTO), Hong Kong is the world's 10th largest exporter of …
As China’s Economy Slows, Hong Kong Seeks To Redefine Its Future - Forbes
Jan 29, 2024 · For decades, Hong Kong enjoyed a privileged position as a free-wheeling hotbed of capitalism perched at the edge of the world’s largest socialist economy in transition. The city was where a...
Hong Kong - Market Overview - Hong Kong and Macau
Feb 16, 2024 · Hong Kong’s economy shrank 3.5 percent in 2022, largely due to the impact of Covid-19 restrictions and outbreaks in Hong Kong and mainland China, as well as a general rise in interest rates.
Key economic indicators of Hong Kong - statistics & facts
Hong Kong is an important global financial center and hub for trade with mainland China. The economy is dominated by the service sector, which contributed nearly 94 percent to the GDP in 2022.
In Hong Kong, decades of wealth gains evaporate on China’s watch
Jan 26, 2024 · As Beijing increases its control over all aspects of life in Hong Kong, including the economy, and gloom persists about the state of China’s post-pandemic recovery, investors have been...
Hong Kong - United States Department of State
As a free market economy, Hong Kong does not promote or incentivize outward investment, nor does it restrict domestic investors from investing abroad. Mainland China and the British Virgin Islands were the top two destinations for Hong Kong’s outward investments in 2022 (based on most recent data available).