In 2017, Hong Kong’s GDP is USD340.1 billion with 3.7% in growth and the employment rate has already reached 96.8%. It may be astonishing when consider the size of Hong Kong is merely only 1, 104 sq. km. (426 sq.ml.) with dwellers over 7.4 million in various nationalities. In fact Hong Kong is 4th most densely populated city in the world and yet with almost zero natural resources such as water and cultivated land.
Hong Kong is one of the most significant global financial centers, holding the highest Financial Development Index score and consistently ranking as the most competitive and freest economic area in the world. As the world’s seventh-largest trading entity, its legal tender, the Hong Kong dollar, is the 13th-most traded currency. Hong Kong’s economic strengths include a sound banking system, virtually no public debt, a strong legal system, foreign exchange reserves at around US$408 billion( as of 2017). It has the most efficient and a corruption-free application procedure, the lowest income tax and the lowest corporate tax. Also, Hong Kong’s tertiary sector dominated economy is characterized by competitive simple taxation and supported by its common law judiciary system.
In term of Geographical sense, Hong Kong as a whole is not only just an island but with a peninsula called Kowloon and New Territories. The north part of New Territories in fact is the extent of Pearl River Delta plain where all the other major cities in Guangdong are situated. Because of that, the territory forms a core part of the Pearl River Delta metropolitan region, it is also recently named as the ‘Guangdong-Hong Kong-Macao Greater Bay Area’ which covers 43,300 sq. Km. area, 65,200,000 population and with RMB at around 92,000 billions GDP(2016).
Following the completion of the cross-sea bridges system during the second part of 2018 in the Greater Bay Area, Hong Kong’s outstanding economic strength and geographical advantage surely can be more remarkable especially it will be finally linked up with the ‘One Belt One Road’ structure.