Hong Kong
"Hong Kong's economy is performing strongly,
as it benefits from its positioning as the region's leading financial centre.
Hong Kong is the biggest hub for British business in the region, and relations
in other areas strong.
UK Trade & Investment
Hong Kong Background Brief, January 2011
Hong Kong is the gateway to China, it always has been and in the foreseeable
future, will remain so. This is one of the major factors for Hong Kong's
success.
The Hong Kong Economy: Q1 GDP Growth 7.2% published by the British
Consulate General in Hong Kong during May 2011 states:
"Hong Kong's economy grew by 7.2% in the
first quarter of 2011 (compared to a year earlier). This was slightly higher
than growth rate of 7% last year. The growth rate is the fifth
consecutive quarter that growth was
distinctly above the average annual growth over the past 10 years. On a
seasonally adjusted quarter-to-quarter comparison, GDP grew by a notable 2.8% in
the first quarter. The government has adjusted its GDP growth forecast upwards
to 5-6% for 2011 (up from the 4-5% forecast in February).”
Because of Hong Kong's geographical proximity and the fact that Hong Kong's
independent judiciary functions under the Common Law framework, strategically
Hong Kong is a 'safe spot' within China. This video from the HSBC Business
Thinking Thought Exchange in Hong Kong focuses on
launching
your brand locally and highlights why Hong Kong is a 'safe spot'.
Hong Kong's business advantages were in the spotlight for UK business
people on 13 September 2011 at
Think Asia,
Think Hong Kong held at London's Queen Elizabeth II Conference
Centre.
Many people see China's strength mainly in its economy and although China's
economy now ranks as the second largest in the world, its per capita income is
still roughly 10 times lower than that of Japan and the United States. Due to
the low standard of living China is forced to export. This video (
Is China the next
superpower?) offers a clear understanding of china's strength and
weaknesses.