Economics & Commerce Data

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Financial Centres of the World: Hong Kong

Hong Kong is a city state located on the south coast of China and it is renowned for its deep natural harbour and expansive, glittering skyline. It is one of the most densely populated areas in the world with over 7 million people living in a land mass of 426 square miles.

It is one of leading financial centres in the world and it has high international rankings for economic freedom, economic and financial competitiveness, corruption perception, and quality of life. Hong Kong is a fantastically diverse and economically exciting place to live, work and visit.

Working in Hong Kong

Hong Kong is a leading financial centre on a global scale and it has a major capitalist service economy that is typified by a highly traded currency, free trade and low taxation. The city has ranked as the freest economy in the world for 15 years by the Index of Economic Freedom. Hong Kong’s office space composition boasts one of the highest concentrations of corporate headquarters within the region of Pacific Asia. The area is known as one of the Four Asian Tigers due to its rapid development and high growth rates.

The Hong Kong Stock Exchange is one of the largest in the world and the government allows market forces to determine the practical development of the city. The region has little arable land and a small amount of natural resources, so the economy is predominantly service and tertiary based.

Hong Kong is the eleventh largest trading entity in the world and its exports and import values far exceeding its GDP. The city is the 8th most expensive city for expatriates and it serves as a point of entry for mainland investment.

Living in Hong Kong

The main language spoken in Hong Kong is Cantonese, closely followed by English, but the city is a multi-cultural hub with high degrees of religious and economic freedom. The education system is extensive and comprehensive and it has some of the widest ranges of healthcare services throughout the globe. The city has 7,650 skyscrapers and due to its shortage of space and high population it has one of the most vertically orientated cityscapes in the world.

Hong Kong has a highly developed transportation network with over 90% of the city’s daily travel consisting of public transport. Using the Octopus card, a Mass Transit System stored value card, it is very easy to get around the city through rail, bus and ferries.

Visiting Hong Kong

Hong Kong’s diverse cultural base reflects the mix of its Chinese roots with British colony influences, with a balance of a modernised lifestyle with traditional Chinese practises. This fusion of west and east is also characterised in the cuisine of Hong Kong with haute cuisine coexisting alongside dim sum and hot pot restaurants.

The city is an entertainment hub, with thriving film and music industries.

Some of the famous attractions include the Hong Kong Heritage Museum, The Hong Kong Museum of Art and the Hong Kong Philharmonic Orchestra. Along with huge shopping complexes and tourism hotspots, the steep terrain also offers beautiful hiking trails and a long coastline provides many beaches for swimming.

Here are some useful resources for visiting, living and working in Hong Kong: