Interesting Facts About Hong Kong's Economy

By Author: Bryan Wong
Total Articles: 11
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Well renowned economist Milton Friedman had once described Hong Kong as “the world’s greatest experimentation in laissez-faire capitalism”. It was with good reason that the American scholar and professor at the University of Chicago described Hong Kong in such a manner especially because the city is known to have the freest economy in the world. If you look into some of the facts regarding Hong Kong’s economy, it is enough to know why Hong Kong is one of the most desirable destinations for entrepreneurs and investors from world over. Some of the interesting facts regarding Hong Kong’s economy are as follows:

1) As mentioned above, Hong Kong has the freest economy in the world. It has one of the most highly developed capitalist economies and has been rated in the premier position for 15 years by the Index of Economic Freedom. As a matter of fact, ever since the inception of the economic freedom index, Hong Kong has ranked continually in the top position.

2) Hong Kong was under British rule until the year 1997 after which it became a special administration region of the People’s Republic of China. Although ...
... Hong Kong is now an integral part of China, it maintains its own economic policies which are quite different from that practiced in Mainland China.

3) Hong Kong has the seventh largest stock market in the world and also home to some of the biggest companies from all over the world. In fact Hong Kong is known for having the highest density for regional corporate headquarters than any other city. Listing in the Hong Kong stock market is not just considered a financially good move but also great from a branding point of view.

4) Hong Kong maintains one of the lowest taxation systems you can find anywhere. In fact low taxation and possibility of zero taxation for certain types of businesses make the city one of the most attractive places to setup an offshore company.

5) Hong Kong is also one of the leading financial centers of the world with its currency the Hong Kong dollar being the ninth most trade currency in the world. At the same time, economic laws in Hong Kong allow foreign firms to use any major currency of the world when it comes to things such as incorporating a company and injecting the startup capital etc.

6) Demand and supply are the only things that dictate which way the economy is headed in Hong Kong. It has the most non-intrusive regime and a role model for all other emerging economies as well as developed nations.

Author's Bio
Bryan Wong is a business analyst in the Asia-Pacific region and in his free time writes business articles. In this article, Bryan talks about Hong Kong llc and Company law Hong Kong.