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Occupied by the UK in 1841, Hong Kong was formally ceded by China the following year; various adjacent lands were added later in the 19th century. Pursuant to an agreement signed by China and the UK on 19 December 1984, Hong Kong became the Hong Kong Special Administrative Region of the People's Republic of China on 1 July 1997. In this agreement, China promised that, under its "one country, two systems" formula, China's socialist economic system would not be imposed on Hong Kong and that Hong Kong would enjoy a "high degree of autonomy" in all matters except foreign and defense affairs for the subsequent 50 years.


Eastern Asia, bordering the South China Sea and China

Natural Resources

outstanding deepwater harbor, feldspar

Population - distribution

population fairly evenly distributed

Cantonese (official) 89.5%, English (official) 3.5%, Mandarin (official) 1.4%, other Chinese dialects 4%, other 1.6% (2011 est.)
Hong Kong 7.26 million (2014)
Conventional long form
Hong Kong Special Administrative Region
Conventional short form
Hong Kong
Local long form
Heung Kong Takpit Hangching Ku (Eitel/Dyer-Ball); Xianggang Tebie Xingzhengqu (Hanyu Pinyin)
Local short form
Heung Kong (Eitel/Dyer-Ball); Xianggang (Hanyu Pinyin)
presidential limited democracy; a special administrative region of the People's Republic of China
Hong Kong
Geographic coordinates
Time difference
Hong Kong has a free market economy, highly dependent on international trade and finance - the value of goods and services trade, including the sizable share of reexports, is about four times GDP. Hong Kong has no tariffs on imported goods, and it levies excise duties on only four commodities, whether imported or produced locally: hard alcohol, tobacco, hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
Total tax rate (% of commercial profits)
Real Interest Rate
Manufacturing, value added (% of GDP)
Current Account Balance
US$ 10,264,062,288
Labor Force, Total
Employment in Agriculture
Employment in Industry
Employment in Services
Unemployment Rate
Imports of goods and services
US$ 594,473,638,442
Exports of goods and services
US$ 601,307,224,065
Total Merchandise Trade
FDI, net inflows
US$ 117,109,696,832
Commercial Service Exports
US$ 104,261,852,607
fresh vegetables and fruit; poultry, pork; fish
textiles, clothing, tourism, banking, shipping, electronics, plastics, toys, watches, clocks
electrical machinery and appliances, textiles, apparel, footwear, watches and clocks, toys, plastics, precious stones, printed material
China 53.7%, US 9.5% (2015)
raw materials and semi-manufactures, consumer goods, capital goods, foodstuffs, fuel (most is reexported)
China 49%, Japan 6.4%, Singapore 6.1%, US 5.2%, South Korea 4.3% (2015)
Country Risk Rating
Changes in generally good but somewhat volatile political and economic environment can affect corporate payment behavior. A basically secure business environment can nonetheless give rise to occasional difficulties for companies. Corporate default probability is quite acceptable on average.
Business Climate Rating
The business environment is good. When available, corporate financial information is reliable. Debt collection is reasonably efficient. Institutions generally perform efficiently. Intercompany transactions usually run smoothly in the relatively stable environment rated A2.
  • Successful specialisation in services (92% of GDP)
  • Robust and transparent banking system
  • High-quality infrastructures
  • Retention of the “one country, two systems” principle, considering the complementarity of the two economies
  • Good business climate
  • Economy vulnerable to economic slowdown in Chinese activity and in world trade
  • Industry completely delocalized to mainland China
  • Growing competition from mainland China in services sector
  • Highly exposed to property sector
  • Rising inequalities in the territory
  • Lack of transparency of financial data

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