This dossier provides an overview on the city of Hong Kong, with a focus on demographic and economic development. It contains statistics on population, infrastructure, economy, foreign trade, labor market, and government. Hong Kong is officially known as Hong Kong Special Administrative Region of the People’s Republic of China. At yearend 2013, the population of Hong Kong had reached 7.22 million, including both permanent and commuting residents. The population is spread across a total land area of around 1,100 square kilometers, making it one of the most densely populated areas in the world.
The city is one of the world’s leading international financial centers. The gross domestic product (GDP) of Hong Kong had reached more than two trillion Hong Kong dollars (262.6 billion U.S. dollars, as of November 2014) in 2012. Hong Kong’s key industries include financial services, trading and logistics, tourism, as well as professional and producer services.
Hong Kong is a full member of World Trade Organization (WTO). It plays a significant role in intermediating trade between mainland China and the rest of the world. A large fraction of the Chinese mainland’s exports and imports are handled via Hong Kong. The United States, Singapore, Taiwan, and Macau are among Hong Kong’s main trade partners.
Hong Kong has an abundant supply of labor and a skilled labor force. Starting in 2010, a minimum wage law has been introduced in Hong Kong in order to protect the interests of low-income workers. Even though Hong Kong’s economic momentum is generally slow, the labor market has been resilient. The unemployment rate in Hong Kong averaged at 3.4 percent in 2013, down more than 35 percent from 2009.
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