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Country name:

conventional long form: Hong Kong Special Administrative Region
conventional short form: Hong Kong
local long form: Xianggang Tebie Xingzhengqu
local short form: Xianggang
abbreviation: HK

 

Capital:

 

Location:

Eastern Asia, bordering the South China Sea and China

 

Map of Hong Kong  (kish Trade Promotion Center)

Area:

1,098 sq km (424 sq miles).
 

Description:
Hong Kong is located in east Asia, just south of the Tropic of Cancer. Hong Kong Island is 32km (20 miles) east of the mouth of Pearl River and 135km (84 miles) southeast of Canton. It is separated from the mainland by a broad natural harbour. Hong Kong Island was ceded to Britain in 1842 by the Treaty of Nanking; and the Kowloon Peninsula (south of Boundary Street and Stonecutters Island) in 1860 by the Convention of Peking. The area of Boundary Street to Shenzhen River and a group of 260 islands, now known as the New Territories, were leased to Britain in 1898 for a period of 99 years. The New Territories (plus the 260 islands) comprise 891 sq km (380 sq miles). Shortage of land suitable for development has led to reclamation from the sea, principally from the seafronts of Hong Kong Island and Kowloon.

 

Population:

Population 6.96 million (2007).

 

language:

Cantonese and English are the official languages, with Cantonese the most widely spoken. Mandarin is growing fast as a second language. English is widely spoken, especially in business circles.

Climate:


Economy - overview:

Hong Kong's economy has moved away from manufacturing and is now service-based, acting as a major corporate and banking centre as well as a conduit for China's burgeoning exports. Manufacturing is concentrated in textiles, consumer electronics and other consumer goods. Hong Kong's natural deep-water cargo port is one of the busiest and most efficient in the region. Much regional trade is still conducted through Hong Kong. Soon after Hong Kong's handover to China in July 1997, Asia's financial crisis hit. With its mature and stable banking system, Hong Kong weathered the immediate storm, but its economy was affected by a large financial depression across Asia. After a brief recovery, by mid 2002 the economy was contracting and in 2003 the SARS epidemic caused a further, prolonged downturn. Since 2004, however, Hong Kong has enjoyed a buoyant recovery, with a new wave of construction and infrastructure investment evident, and a major influx of cash-rich tourists from mainland China. In late 2008, Hong Kong's financial markets were badly affected by the global financial crisis, and the government considerably downgraded its growth forecasts for 2008 and 2009.

Economy:

Hong Kong's economy has moved away from manufacturing and is now service-based, acting as a major corporate and banking centre as well as a conduit for China's burgeoning exports. Manufacturing is concentrated in textiles, consumer electronics and other consumer goods. Hong Kong's natural deep-water cargo port is one of the busiest and most efficient in the region. Much regional trade is still conducted through Hong Kong. Soon after Hong Kong's handover to China in July 1997, Asia's financial crisis hit. With its mature and stable banking system, Hong Kong weathered the immediate storm, but its economy was affected by a large financial depression across Asia. After a brief recovery, by mid 2002 the economy was contracting and in 2003 the SARS epidemic caused a further, prolonged downturn. Since 2004, however, Hong Kong has enjoyed a buoyant recovery, with a new wave of construction and infrastructure investment evident, and a major influx of cash-rich tourists from mainland China. In late 2008, Hong Kong's financial markets were badly affected by the global financial crisis, and the government considerably downgraded its growth forecasts for 2008 and 2009.
 

Industries:

textiles, clothing, tourism, banking, shipping, electronics, plastics, toys, watches, clocks

 

Exports:

Electrical machinery and appliances, textiles, watches and clocks, toys and precious stones.

Imports:

Raw materials and semi-manufactured goods, consumer goods, capital goods, food and fuel (most is re-exported). Main trade partners: China (PR), Japan, USA, Taiwan, Singapore and Korea (Rep).

Exchange rates:



GDP :

US$206.7 billion (2007).

 

 

Useful links:

 

  Copyright By :  Kish Trade Promotion Center  2002