Презентация - Business and economy. 01. Economy of hong kong

Business and economy
Economy of Hong Kong

Economy of Hong Kong
The economy of Hong Kong is a highly developed free-market economy characterised by low taxation, almost free port trade and well-established international financial market

CHARACTERISTIC FEATCHURES
No restrictions on the movement of capital Own stable currency (Hong Kong Dollar) Lack of currency control Low level of inflation Small government intervention in business No barriers to foreign investment Hong Kong is the third largest financial center in the world The world's largest duty-free container port It is one of the 12 countries with the most developed trading economy There are minor restrictions in banking and financial activities

According to the Index of Economic Freedom, Hong Kong has had the highest degree of economic freedom in the world since the occurence of the index in 1995.For this reason it is regarded as among the most favorable places to start a company. In fact, a recent study shows that Hong Kong has come from 998 registered start-ups in 2014 to over 2800 in 2018.

HONG KONG'S ECONOMIC STRENGTHS INCLUDE
SOUND BANKING SYSTEM
NO PUBLIC DEBT
ANTI-CORRUPTION MEASURES
CLOSE TIES WITH MAINLAND CHINA

Hong Kong's gross domestic product has grown 180 times between 1961 and 1997. Hong Kong's GDP was 366 billion in 2019
The GDP per capita rose by 87 times within the same time frame. Hong Kong's GDP per capita in 2019

Economy and business

THE PORT OF HONG KONG
By the late 20th century, Hong Kong was the seventh largest port in the world and second only to New York and Rotterdam in terms of container throughput. Hong Kong is a full Member of World Trade Organization. The Hong Kong Stock Exchange is the sixth largest in the world, with a market capitalisation of about US$3.732 trillion.

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Export
Import

Taxes
The standard personal income tax rate is 15 percent, and the top corporate tax rate is 16.5 percent. The tax system is simple and efficient. The overall tax burden equals 14.1 percent of total domestic income. Public debt is equivalent to 0.1 percent of GDP.