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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 .
Hong Kong’s economy has struggled to regain momentum since it reopened after more than two years of self-imposed Covid isolation. In 2023, its GDP grew 3.2%, thanks to a low base in 2022, but it ...
“Hong Kong is a barometer of the economic activities in China," said Patrick Ip, managing director at China-ASEAN Investment Cooperation fund. "Because of the recent China economic downturn and ...
Hong Kong maintains separate governing and economic systems from that of mainland China under the principle of one country, two systems. [ g ] Originally a sparsely populated area of farming and fishing villages, [ 18 ] [ 19 ] the territory is now one of the world's most significant financial centres and commercial ports.
The economy shrank by 3.2% in July-September from the previous quarter on a seasonally adjusted basis, revised government data showed, in line with a preliminary reading. ... Hong Kong sank into ...
The Mainland and Hong Kong Closer Economic Partnership Arrangement, or Closer Economic Partnership Arrangement (CEPA) for short, is an economic agreement between the Government of the Hong Kong Special Administrative Region and the Central People's Government of the People's Republic of China, signed on 29 June 2003.
Hong Kong's economy shrank faster in the third quarter, contracting 4.5% from the same period a year earlier, the third straight quarter of downturn, advance government data showed on Monday, as ...
The GFCI is a ranking of the competitiveness of financial centres based on a number of existing indices in combination with a regular survey of senior industry figures from around the world. Hong Kong ranked third behind New York and London. IT industry competitiveness index [21] Economist Intelligence Unit: 21/64 countries