Hong Kong functions as both a city as well as a country, even though the area was officially handed back to China in 1997, it continues to have its own government and currency.
Hong Kong keeps up an open, highly respected, and efficient financial system and regulatory framework that counts among its members the world’s largest financial institutions. Hong Kong accounts for a large share of inward investment to Mainland China and China is the most important trading partner for HK. Strategically situated and in close proximity to China, Hong Kong plays an important role in accessing the Mainland China market for plenty of foreign entrepreneurs.
Even if China’s financial linkages with the rest of the world were to strengthen, Hong Kong is more likely to continue to play an important role as a capital-raising center for Chinese firms. In this circumstance, Hong Kong’s role as a financial services center will become even more important.
In 2010 the Hong Kong Stock Exchange (HKSE) became Asia’s second largest stock exchange in relation to market capitalization, behind the Tokyo Stock Exchange (TSE). HKSE overtook Shanghai Stock Exchange partly because many Chinese organizations also see HKSE as an effective approach to expand their enterprises within Asia.
The country’s reputation as a global financial powerhouse draws in Chinese organizations for number one and secondary listings to access Asia markets. Being in the center of Asia, HK may be efficient in relation to links to international markets. The HK airport is within a 5 hour flight to all leading trading territories in the region.
From a commercial standpoint, Hong Kong’s international cargo air port continues to be the world’s busiest plus the HK international container port is the world’s 3rd busiest. Over 100 international shipping lines operate from HK, connecting to over five thousand destinations worldwide.
Hong Kong is only one hour’s drive from the world’s largest manufacturing region, the Pearl River Delta, which creates 30 % of China’s exports. A new rail link is under development, called the Guangzhou-Shenzhen-Hong Kong Express Rail Link, which is going to halve present journey times between Hong Kong and Guangzhou.
But upholding international competitiveness from rising competition coming from other ambitious financial centers will remain a problem.
Hong Kong is also home to a large expatriate gathering of about 350,000 individuals and 29 million international tourists a year, maintaining a diverse and open minded population throughout the year. A majority of Hong Kong residents can be found employed in either telecommunications, banking, insurance, or tourism.
Hong Kong’s history as a British colony and its current Chinese influences furnish a bi-culture of two of the most dominant world economies nowadays. The British impact within a Chinese culture is a crucial corporate advantage, facilitating international entrepreneurs’ working out of the biggest Asian marketplace, at the same time avoiding dramatic culture shock.
Distributed by www.Travel-Asia-Tips.Com, an up-to-date guide to Asia online and Asia travel. Providing current and relevant information about, Hong Kong tourism, airlines, hotels, resorts, travel, destinations, special deals.
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