THE TIMES | THE SUNDAY TIMES | TIMES+

Media


If you can not find the service that you require, please contact us by email, phone or fax and we will use our best endeavours to supply the requested service.

Click here for our contact details.

Hong Kong

Basic Information

Area: 1,104 km²

Calling code: +852

Population: 6,985,200

Official Language: Chinese, English

Time zone: HKT (UTC+8), Local time: 02:49

Overview

One of the two Special Administrative Regions of China, Hong Kong consists of Hong Kong Island and a region which spans across several other islands including Lantau.

Hong Kong has the right to remain free from China’s socialist economic system and is thus able to oversea the majority of it’s own affairs.

Hong Kong is a vibrant commercial metropolis where both Chinese and Western influences combine.

The economy of Hong Kong is now services-based rather than manufacturing and the region is a major banking centre and a prominent hub for China’s thriving export industry.

Population density is among the world’s highest with approximately 6,300 people per square kilometre. Hong Kong is abound with skyscrapers temples and shopping malls but equally there are parks, beaches and mountain-top views. The national currency is the Hong Kong dollar (HKD)

Economy

Hong Kong is one of the world’s leading financial centres. Low tax, excellent transportation and cargo links together with the skilled workforce have attracted many of the world’s leading companies. Hong Kong Island is of great economic significance: Victoria Harbour deals with all the region’s imports and exports.

Much of the manufacturing industry has relocated to the mainland where goods such as machinery, toys, plastics, textiles and footwear are produced and transported to Victoria Harbour to be shipped globally.

Hong Kong is ranked as the ‘freest’ economy in the world. The region has also become a major tourist destination in recent years. Hong Kong has strong trade links with China, Japan, Singapore and Taiwan.

Infrastructure

Hong Kong has a superb network of air and land transportation systems.

The one main commercial airport is Hong Kong International Airport. It is an important regional trans-shipment hub, passenger terminal and gateway for destinations in China and the rest of Asia. The airport also lays claim to being the busiest cargo gateway in the world as well as being one of the world’s busiest passenger airports.

The airport contributes greatly to Hong Kong’s economy with around 60,000 employees. More than 100 airlines operate out of the airport serving 180 cities worldwide.

Hong Kong has an extensive train network, Mass Transit Railway and Tramways system. Public light buses and taxis are also available as alternative modes of transport.

Workforce

The official languages in Hong Kong are English and Cantonese. All secondary schools teach English to high levels and promote bi-lingual class lessons. As such, much of the population are fluent in English.

School is compulsory up to 16 years of age but since education is placed high on the list of priorities, many people choose to further their education. The high level of teaching available attracts a large number of talented international students.

The size of the labour force is around 4 million which represents approximately 60 percent of the total population aged 15 and over.

Business Costs

Office rental costs are relatively high for prime locations in the heart of Hong Kong’s business district. The commercial rental market has remained active, however, due to the high demand combined with space limitations although constructions of new business zones and office spaces are ongoing.

Personal income taxes are favourable helping attract a large number of expatriate residents. Low corporate tax rates have also helped the economic development of Hong Kong. In addition, there is no value added tax, no sales tax and no capital gains tax which again, provide favourable circumstances to both companies and individuals.

Although there is no minimum wage in Hong Kong, legislation protects workers rights. Labour costs are low in general although the salaries of high level professionals can rival those in highly developed cities.
Business City Guide - home page

Local Services

Our Sponsors

Europe
Europe
Asia
Asia
Australia
Australia
Africa
Africa
Nort America
North America
South America
South America