Economic Overview
Hong kong has a free market economy highly dependent on international trade. in 2006, the total value of goods and services trade, including the sizable share of reexports, was equivalent to 400% of gdp. the territory has become increasingly integrated with mainland china over the past few years through trade, tourism, and financial links. the mainland has long been hong kong's largest trading partner, accounting for 46% of hong kong's total trade by value in 2006. as a result of china's easing of travel restrictions, the number of mainland tourists to the territory has surged from 4.5 million in 2001 to 13.6 million in 2006, when they outnumbered visitors from all other countries combined. hong kong has also established itself as the premier stock market for chinese firms seeking to list abroad. bolstered by several successful initial public offerings in early 2007, by september 2007 mainland companies accounted for one-third of the firms listed on the hong kong stock exchange, and more than half of the exchange's market capitalization. during the past decade, as hong kong's manufacturing industry moved to the mainland, its service industry has grown rapidly and now accounts for 91% of the territory's gdp. hong kong's natural resources are limited, and food and raw materials must be imported. gdp growth averaged a strong 5% from 1989 to 2007, despite the economy suffering two recessions during the asian financial crisis in 1997-98 and the global downturn in 2001-02. hong kong continues to link its currency closely to the us dollar, maintaining an arrangement established in 1983.
Environmental Issues
Air and water pollution from rapid urbanization
Government Type
Limited democracy
Population
7,018,636 (july 2008 est.)
Location
Eastern asia, bordering the south china sea and china
Area
Total: 1,092 sq km
land: 1,042 sq km
water: 50 sq km
Six times the size of washington, dc
Country Aliases
Conventional long form: hong kong special administrative region
conventional short form: hong kong
local long form: xianggang tebie xingzhengqu
local short form: xianggang
abbreviation: hk
International Disputes
None
Sources: Central Intelligence Agency (CIA)
2 Hong Kong Jobs Found
Position Category: Finance/AccountingPosition Title: Taxation HK, Private Equity Tax Advisory, Manager / Senior ManagerJob Level: ManagerLocation:...
Morgan Stanley
-
HK-Hong Kong
-
posted 23 days ago
Position Category: Finance/AccountingPosition Title: Taxation HK, US & Local Tax Compliance - Private Equity, Senior Manager / Vice PresidentJob Level...
Morgan Stanley
-
HK-Hong Kong
-
posted 29 days ago
