The Economy

Hong Kong is continuing to prosper thanks to its ideal location in fast-growing Asia and the opportunities brought by the Mainland economy.

Hong Kong is an international business, trade and financial hub, as well as a renowned tourist city, providing high value-added and knowledge-intensive services to the globalised world.

Hong Kong was again ranked the world's freest economy in the Fraser Institute's Economic Freedom of the World 2022 Annual Report in September 2022. It was ranked number five in the world in the IMD World Digital Competitiveness Ranking 2022.

Its many advantages include free and open trade, the rule of law, a simple, low tax system and excellent infrastructure and connectivity. It has well-established professional services, a thriving start-up ecosystem, a well-educated and industrious workforce, and a low incidence of corruption.

In addition to its four pillar industries (financial services, trading and logistics, professional and business services, and tourism) Hong Kong has been developing into an international innovation and technology (I&T) hub and is seizing the opportunities offered by national projects like the Belt and Road Initiative and the Greater Bay Area development.

Hong Kong is developing its I&T ecosystem to enable re-industrialisation to take root, and to complement I&T development across the boundary in Shenzhen.