Relocation Advice - Hong Kong
AP Executive have vacancies for jobs in Hong Kong and jobs in
the far east, just contact our dedicated executive consultants to
find out more or submit your CV online in order that we can match
you with Hong Kong jobs.
Occupied by the UK in 1841, Hong Kong was formally ceded by China
the following year; various adjacent lands were added later in the
19th century. Pursuant to an agreement signed by China and the UK
on 19 December 1984, Hong Kong became the Hong Kong Special
Administrative Region (SAR) of China on 1 July 1997. In this
agreement, China has promised that, under its "one country, two
systems" formula, China's socialist economic system will not be
imposed on Hong Kong and that Hong Kong will enjoy a high degree of
autonomy in all matters except foreign and defense affairs for the
next 50 years.
Hong Kong has a free market, entrepot economy, highly dependent on international trade. Natural resources are limited, and food and raw materials must be imported. Gross imports and exports (i.e. including re-exports to and from third countries) each exceed GDP in dollar value. Even before Hong Kong reverted to Chinese administration on 1 July 1997, it had extensive trade and investment ties with China. Hong Kong has been further integrating its economy with China because China's growing openness to the world economy has made manufacturing in China much more cost effective. Hong Kong's re-export business to and from China is a major driver of growth. Per capita GDP is comparable to that of the four big economies of Western Europe. GDP growth averaged a strong 5% from 1989 to 1997, but Hong Kong suffered two recessions in the past six years because of the Asian financial crisis in 1998 and the global downturn in 2001 and 2002. Although the Severe Acute Respiratory Syndrome (SARS) outbreak also battered Hong Kong's economy, a boom in tourism from the mainland because of China's easing of travel restrictions, a return of consumer confidence, and a solid rise in exports resulted in the resumption of strong growth in late 2003 and in 2004.
Area: 1,098 sq km
Population: 6.7 million
Country: China
Time Zone: GMT/UTC +8 (Hong Kong Standard Time)
Telephone Area Code: 852
