During the last 20 years, Hong Kong’s economy has more than doubled in size with GDP growing in real terms at an average annual rate of 4.8%. Over the same period, Hong Kong’s per capita GDP has doubled giving an annual average growth rate of 3.6% in real terms.
Hong Kong is characterised by a high degree of internationalisation, business-friendly environment, open and fair competition, free flow of information, well-established and comprehensive financial network, superb network of transport and telecommunications infrastructure, sophisticated support services and a well-educated work force complemented by a pool of efficient entrepreneurs. It also has a substantial amount of foreign exchange reserves, a fully convertible and stable currency, no exchange controls and a simple tax system with tax being levied at a low rate.
Direct investment
Hong Kong is the second most favoured destination for inward direct investment in Asia, second only to mainland China. The stock of inward direct investment into Hong Kong at the end of 2003 amounted to HK$2,960.40 billion, equivalent to 245% of the GDP of Hong Kong.
Services sector
The services sector has flourished and diversified into types of activities in line with the structural transformation of the economy. Trade-related and tourism-related services, community, social and personal services and finance and business services such as banking, insurance, real estate and a host of related professional services have all grown substantially over the past two decades. There has also been strong expansion in information technology, especially telecommunications services and Internet applications in line with the shift in economic structure towards a knowledge-based economy.
Manufacturing sector
Manufacturing businesses in Hong Kong are renowned for being versatile and flexible. The existence of many small establishments connected under an extensive local sub-contracting network has facilitated producers in coping with changing conditions in overseas markets. By increased outward processing arrangements in mainland China, Hong Kong’s capacity has been substantially expanded helping to maintain the price efficiency of its products, most of which are destined for export.
Contact Us
If you have further inquires, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website english.tannet-group.com, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143422, or emailing to tannet-solution@hotmail.com. You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020,Dongmen Rd South, Luohu , Shenzhen, China.
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