- Hong Kong is a Special Administrative Region controlled by the People's Republic of China and enjoys limited autonomy1. Hong Kong's GDP has increased to $364 billion, now 2.7 percent the size of China's economy2. Hong Kong is a key Asian economic powerhouse, characterized by low tax rates, free trade, and limited government interference1. Hong Kong's status as a global financial and business center has also helped China to promote greater global use of its currency, the renminbi or Chinese yuan3.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.
Key Takeaways
- Hong Kong is a Special Administrative Region controlled by the People's Republic of China and enjoys limited autonomy.
www.investopedia.com/articles/investing/121814/h…Hong Kong's GDP has increased to $364 billion, now 2.7 percent the size of China's economy. After years of rapid growth, the Chinese economy is now starting to slow down and that has also caused Hong Kong's to stutter, though it does remain a key Asian economic powerhouse.www.statista.com/chart/19190/hong-kongs-econom…These charts show why Hong Kong is important to China
- Open capital markets One of the most obvious traits that separates Hong Kong from the rest of China is its position as a free and open economy. ...
www.cnbc.com/2020/06/18/these-charts-show-wh… - People also ask
- See more
See all on WikipediaEconomy 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. Its currency, called the Hong Kong dollar, is legally issued by three major international commercial banks, and is … See more
Since the 1997 handover, Hong Kong's economic future became far more exposed to the challenges of economic globalisation and the direct competition from cities in mainland China. In particular, Shanghai claimed … See more
The following table shows the main economic indicators in 1980–2021 (with IMF staff estimates in 2022–2027). Inflation below 5% is in green.
GDP See moreStock exchange
The Hong Kong Stock Exchange is the sixth largest in the world, with a market capitalisation of about US$3.732 trillion as of mid-2017. In 2006, the value of initial public offerings (IPO) conducted in Hong Kong was second … See moreHong Kong's economic policy has often been cited by economists such as Milton Friedman and the Cato Institute as an example of laissez-faire capitalism, attributing the city's … See more
In 2020, Hong Kong was ranked as the world's second-freest economy after Singapore in the Index of Economic Freedom, published by The Heritage Foundation. … See more
The international poverty line is a monetary threshold under which an individual is considered to be living in poverty. This threshold is calculated using Purchasing Power … See more
Wikipedia text under CC-BY-SA license 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.
Hong Kong vs. Mainland China: What's the Difference?
See more on investopedia.comHong Kong is one of Asia's busiest cities. The SARis an international financial hub, business center, and shopping and tourist destination. Nevertheless, it's entirely under the sovereignty of China and, at times, has fiercely resisted Beijing's interference in its political life. Pro-democracy activists in Hong Kong would like t…Moderate Growth with Fresh Drivers – 2025 Hong Kong Economic …
Jan 8, 2025 · Driven by strong commodity trade, Hong Kong’s economy continued the recovery momentum in 2024, with an expected annual growth rate of 2.5%. Looking into 2025, …
Economic and Trade Information: Hong Kong | HKTDC …
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 …
Hong Kong vs. China - economy comparison - IndexMundi
Hong Kong has a free market economy, highly dependent on international trade and finance - the value of goods and services trade, including the sizable share of reexports, is about four times …
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 …
As China’s Economy Slows, Hong Kong Seeks To …
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...
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 …
In charts: Hong Kong’s economy is struggling to …
Oct 13, 2024 · Hong Kong’s economy is still struggling to regain momentum, according to a Financial Times analysis of the latest data, with any benefits from lower US interest rates and a Chinese stimulus...
