Business
15:31, 28-Jun-2017
Hong Kong's role beyond trade hub and connector
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Hong Kong has long been a shipping hub for Asia and the city had a stronger than expected trade performance in the first quarter of 2017.
Although Hong Kong’s trade revenues dropped in both 2015 and 2016, trade revenues with the Chinese mainland have been on the rise.
That’s because the mainland uses Hong Kong as a transfer station for trade. 60 percent of all goods passing through Hong Kong to overseas markets and 54 percent of the city’s export revenues come from the Chinese mainland.
But competition from many mainland coastal cities is weakening Hong Kong’s position as China’s top connector to the world.
However it is still the most international city in China, with a freely convertible currency and free movement of people, goods, capital and information.
Hong Kong is also expected to be a key part of China’s 21st Century Maritime Silk Road.