Hong Kong: A global hub and home to key industries

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By CGTN's Xing Ruinan

Hong Kong is a global center for trade and finance. The city's economy expands at an average annual rate of 3.4 percent, which is consistently faster than most high-income economies. Four key industries have been the driving force behind its economic growth. They are: trading and logistics, financial services, tourism, and professional and producer services.

Hong Kong port is a gateway for Pearl Delta in the Guangdong Province. The city operates one of the world’s busiest container ports in terms of throughput, handling some 20 million vessels every year.

But container ships are not Hong Kong's only money maker. Its financial sector commands sizeable foreign exchange reserves, a fully convertible and stable currency, prudent fiscal management and a simple tax system with low rates.

Hong Kong's global appeal is not limited to trade and finance. Already brimming with its own dense population, Hong Kong is also a top travel destination for many people from around the world.

Already brimming with its own dense population, Hong Kong is also a top travel destination for many people from around the world. /VCG Photo

As for professional and producer services, Hong Kong's high-level offerings are gaining recognition in the region and across the globe.

When asked about her expectations for the future of Hong Kong, the newly elected chief executive Carrie Lam pointed out that the development of the region is based on the development of the country as a whole. She says her administration would supply greater opportunities to Hong Kong's professional services in cooperation with more than 60 countries along the Belt and Road.

The Hong Kong economy has nearly doubled in size since it returned to China in 1997. As it ventures into its third decade, many hope this historic region can continue to serve as a global hub well into the future.

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