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Economy of Hong Kong and business opportunities

Economy of Hong Kong

As one of the world's leading international financial centres, Hong Kong's service-oriented economy is characterized by its low taxation, almost free port trade and well established international financial market. Its currency, called the Hong Kong dollar, is legally issued by three major international commercial banks, and pegged to the US Dollar. Interest rates are determined by the individual banks in Hong Kong to ensure it is fully market-driven. There is no officially recognised central banking system, although Hong Kong Monetary Authority functions as a financial regulatory authority. When destabilising factors are hitting the financial market of Hong Kong, they will be monitored and inspected by the Hong Kong Monetary Authority, the financial regulatory agency in Hong Kong. Electronic finance trading is evolutionarily impacting the financial market of Hong Kong.

According to Index of Economic Freedom, Hong Kong has had the highest degree of economic freedom in the world since the inception of the Index in 1995. Its economy is governed under positive non-interventionism, and is highly dependent on international trade and finance. In 2009, Hong Kong's real economic growth fell by 2.8% as a result of the global financial turmoil.

Hong Kong's economic strengths include a sound banking system, virtually no public debt, a strong legal system, ample foreign exchange reserves, rigorous anti-corruption measures and close ties with the mainland China. Despite the downturn, these strengths enable it to quickly respond to changing circumstances. It has the most efficient and a corruption-free application procedure, the lowest income tax, the lowest corporate tax as well as an abundant and sustainable government finance. The government of Hong Kong consistently upheld the policy of encouraging and supporting activities of private businesses.

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 Kwai Chung container complex was the largest in Asia; while Hong Kong shipping owners were second only to those of Greece in terms of total tonnage holdings in the world. The Hong Kong Stock Exchange is thesixth largest in the world, with a market capitalisation of about US$3.32 trillion.

The Hong Kong Stock Exchange is the sixth largest in the world, with a market capitalisation of about US$2.97 trillion. In 2006, the value of initial public offerings (IPO) conducted in Hong Kong was second highest in the world after London. In 2009, Hong Kong raised 22 percent of IPO capital, becoming the largest centre of IPOs in the world. The rival stock exchange of the future is expected to be the Shanghai Stock Exchange. As of 2006, Hong Kong Exchanges and Clearing (HKEX) has an average daily turnover of 33.4 billion dollars, which is 12 times that of Shanghai.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Economy Of Hong Kong"

Global Tenders has one of the largest database of international and national tenders/competitive bids, procurement news, project information, contract awards, related to Hong Kong from all over the world..

This section contains economy and business opportunities and from Hong Kong.
Hong Kong Economy Hong Kongese Economy, business opportunities in Hong Kong.
Summary:
Expression Of Interest For The Supply And Installation Of Tunnel Finisher, Laundry For Caritas Medical Centre, Kowloon West Cluster, Hospital Authority
Country:
Hong Kong
 
Notice Type:
Tender Notice
Deadline:
08 Apr 2024
Posting Date:
14 Mar 2024
 
 
 
Summary:
Expression Of Interest For The Supply And Installation Of Automation Systems, Preanalytic Modules, Microbiology (Inoculation System, Automatic) & Analyzer, Molecular For Expansion Of United Christian Hospital, Kowloon East Cluster, Hospital Authority
Country:
Hong Kong
 
Notice Type:
Tender Notice
Deadline:
08 Apr 2024
Posting Date:
13 Mar 2024
 
 
 
Summary:
Expression Of Interest For The Supply And Installation Of Lights, Surgical For Expansion Of United Christian Hospital, Kowloon East Cluster, Hospital Authority
Country:
Hong Kong
 
Notice Type:
Tender Notice
Deadline:
03 Apr 2024
Posting Date:
13 Mar 2024
 
 
 
Summary:
Expression Of Interest For The Supply And Installation Of Water Purification Systems, Reverse Osmosis, Hemodialysis For Our Lady Of Maryknoll Hospital, Kowloon Central Cluster, Hospital Authority
Country:
Hong Kong
 
Notice Type:
Tender Notice
Deadline:
05 Apr 2024
Posting Date:
12 Mar 2024
 
 
 
Summary:
Expression Of Interest For The Supply And Installation Of Audio-Visual System For Block A For Expansion Of United Christian Hospital, Kowloon East Cluster, Hospital Authority
Country:
Hong Kong
 
Notice Type:
Tender Notice
Deadline:
08 Apr 2024
Posting Date:
11 Mar 2024
 
 
 
Summary:
Expression Of Interest For The Supply And Installation Of Scanning Systems, Computed Tomography/Positron Emission Tomography For Radiology Department Of United Christian Hospital, Kowloon East Cluster, Hospital Authority
Country:
Hong Kong
 
Notice Type:
Tender Notice
Deadline:
17 Apr 2024
Posting Date:
08 Mar 2024
 
 
 
Summary:
Expression Of Interest For The Supply And Installation Of Nucleic Acid Processors, Purification For United Christian Hospital, Kowloon East Cluster, Hospital Authority
Country:
Hong Kong
 
Notice Type:
Tender Notice
Deadline:
17 Apr 2024
Posting Date:
08 Mar 2024
 
 
 
Summary:
Expression Of Interest For The Supply And Installation Of Exercisers, Computer-Aided Training, Balance For Hong Kong Children'S Hospital
Country:
Hong Kong
 
Notice Type:
Tender Notice
Deadline:
10 Apr 2024
Posting Date:
08 Mar 2024
 
 
 
Summary:
Expression Of Interest For The Supply & Installation Of Lasers, Carbon Dioxide, Surgical/Dermatologic For Department Of Obstetrics And Gynaecology Of Tuen Mun Hospital, New Territories West Cluster And Department Of Ear, Nose And Throat Of Alice Ho Miu Ling Nethersole Hospital, New Territories East Cluster, Hospital Authority
Country:
Hong Kong
 
Notice Type:
Tender Notice
Deadline:
28 Mar 2024
Posting Date:
08 Mar 2024
 
 
 
Summary:
Expression Of Interest For The Supply Of Sporicidal Disposable Curtain For Infection Control Unit Of Tuen Mun Hospital, Pok Oi Hospital And Tin Shui Wai Hospital, New Territories West Cluster, Hospital Authority
Country:
Hong Kong
 
Notice Type:
Tender Notice
Deadline:
16 Apr 2024
Posting Date:
05 Mar 2024