An analysis of the future of hong kongs economy

But that is precisely what has happened during what I call the first wave of globalisation. At present, two local universities provide full-time degree courses on Chinese Medicine in Hong Kong. Retail has taken the biggest hit in the current downturn. One of the five — British citizen Lee Bo — disappeared from Hong Kong, leading many to believe he had been abducted by Chinese agents in violation of local law.

The value of retail sales, in nominal terms, increased by 7. Where no such treaty is in place with a country, enforcement can be requested before the court, via an exequatur procedure.

There are many but, in particular, I would focus on the rule of law. This procedure does not provide legal protection from creditors. But I am confident these challenges will also be catalysts for innovation that will enable Hong Kong to compete for bigger opportunities. My family is very proud that my brother William served as a Chairman of the Chamber.

Economic and Trade Information on Hong Kong

Cheques and Bills of Exchange are also frequently used in Hong Kong. Opposition legislators have vowed to block the rail project rather than allow Chinese police to operate in the heart of Hong Kong.

The Practice Directions on Mediation, introduced inset out voluntary processes that involve trained and impartial third party mediators.

EIU Concierge

Hong Kong companies may consider collaborating with mainland institutions to: Importantly, a rising share of business transactions are now denominated in Renminbi rather than Hong Kong Dollars or US Dollars, such is the growing Chinese influence in region.

I think this is very unhealthy. At present, there are over 6, pharmaceutical enterprises in China. We are now at another major turning point where we are seeing a total discontinuity in the global economic environment. InHong Kong government announced the creation of a year program designed to give the country a more important role in the development of Chinese medicine worldwide.

The number of cities on the Chinese Mainland has more than trebled sinceto more than I mention retailing not just because we have had a lot of experience there but because I believe it is a bellwether of profound changes taking place within the Chinese economy and the economy worldwide.

The company is presently looking for new partners for co-operation.

Hong Kong's Future in the New Global Economy

And many of those will be young people. Patient uses western medicine usually can be cured quicker than use of TCM. The Chamber has a knack of sounding the right note at the right time with its Business Summit.

Below are some highlights: Developing Talent For any of this to happen, we must have the right people and the right talent pool. China, for example, will be both a production country and a consumption country. This will create more space for digitally-enabled entrepreneurs and start-ups.

Some developers are taking aggressive measures to close deals, such as offering buyers top-up financing to cover the initial deposit and other costs excluding a bank mortgage.

Economy of Hong Kong

There are about wholesalers of raw or processed Chinese medicinal materials, and propriety Chinese medicine wholesalers in HK. Most of these new middle-class consumers will be in the developing economies, especially in Asia.

Enforcement of a legal decision A domestic judgment is enforceable once it becomes final if no appeal is lodged within 28 days. Sales had been buoyed when wealthy Chinese consumers flocked to the territory to buy luxury goods and cosmetics, but takings slipped 11 per cent year on year during the first five months of and the number of mainland tourists dropped 12 per cent in the same period to 17m.

Finally, despite a lack of transparency of financial information, Hong Kong enjoys a very favourable business climate.Access the latest politics analysis and economic growth summary through for Hong Kong from The Economist Intelligence Unit Hong Kong Economy, Politics and GDP Growth Summary -.

Learn more about Hong Kong's economy in the Index of Economic Freedom. The report contains Hong Kong facts, including Hong Kong's population, GDP, business, trade, inflation and more.

May 10,  · 2 Responses to “The economic future of Hong Kong” pw9g10 May 10, at am # It appears that the increasing economic links between China and Hong Kong have yielded vast mutual benefits and it is difficult to determine whether this increasing reliance and falling independence will truly cost Hong Kong.

Under the British scheme of things, manufacturing was the mainstay of the economy of Hong Kong, thanks to its buzzing port which facilitated the movement of goods.

Geographically, Hong Kong stands at the center of the Greater Pearl River Delta region, which also includes Macau and a part of Guangdong. Jul 11,  · Hong Kong’s Future in Doubt. By The Editorial Board. Hong Kong has long been considered an Asian jewel, a vibrant free-market economy and global financial center known for its rule of.

Unfortunately for Hong Kong the battle over its future is coming as its China-dependent economy faces the “worst time in 20 years”, according to John Tsang, the financial secretary.

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An analysis of the future of hong kongs economy
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