China Sea And Pearl River Delta

1432 Words Apr 27th, 2015 6 Pages
BACKGROUND
Hong Kong, is located on the southeast coast of China, the diplomatic location of Hong Kong on the South China Sea and Pearl River Delta helps it to become one of the world growing and worldly cities (Hong Kong Tourism Board, 2015). Before 18th century, Hong Kong was still an agricultural and manufacturing industries. In early 80’s to late 90’s, Hong Kong lost the comparative advantage in manufacturing as the opening up and reformation of the Mainland China, but the comparative advantage of being a service centre has been increased (Lingnan University, 2014) In addition, Hong Kong has experienced three structural economic changes:

Fishing Village
Entrepôt

Manufacturing Centre
International Trading & Financial Centre

Nowadays, Hong Kong becomes one of the “Asia Four Tigers” with the Republic of Korea, Singapore and Taiwan (John Page, 1994). Also, Hong Kong ranked 39 in the world according to GDP (The World Bank, 2015). In this report, I would like to introduce the Hong Kong’s current economy, reflection on the role and contributions of different sectors. Also, discuss the strategic priorities for policy makers to generate strong and sustainable economic development for Hong Kong in the next 20 years.

HONG KONG’S CURRENT ECONOMY

Being as a knowledge based and service sector, the share of service sector in Hong Kong’s GDP increased from 67.5% to 85% between 80’s and Late 90’s.
The character of service sector is very important and essential in the…

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