Hong Kong Travel Guide

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Statistics

•GDP: US$301 billion (2009).
• Main exports: Electrical machinery and appliances, textiles, watches and clocks, toys and precious stones.
• Main imports: Raw materials and semi-manufactured goods, consumer goods, capital goods, food and fuel (most is re-exported).
• Main trade partners: China (PR), Japan, USA, Taiwan, Singapore and Korea (Rep).

Economy

Hong Kong's economy has moved away from manufacturing and is now service-based, acting as a major corporate and banking center as well as a conduit for China's burgeoning exports. Manufacturing is concentrated in textiles, consumer electronics and other consumer goods. Hong Kong's natural deep-water cargo port is one of the busiest and most efficient in the region. Much regional trade is still conducted through Hong Kong.

Soon after Hong Kong's handover to China in July 1997, Asia's financial crisis hit. With its mature and stable banking system, Hong Kong weathered the immediate storm, but its economy was affected by a large financial depression across Asia. After a brief recovery, by mid 2002 the economy was contracting and in 2003 the SARS epidemic caused a further, prolonged downturn. Since 2004, however, Hong Kong has enjoyed a buoyant recovery, with a new wave of construction and infrastructure investment evident, and a major influx of cash-rich tourists from mainland China. In late 2008, Hong Kong's financial markets were badly affected by the global financial crisis, and the government considerably downgraded its growth forecasts for 2008 and 2009.

Business Etiquette

Businesspeople are generally expected to dress smartly. Local businesspeople are usually extremely hospitable and speak English. Appointments should be made in advance and punctuality is appreciated. Business cards are widely used and should have a Chinese translation on the reverse. Most top hotels provide business centers for visiting businesspeople, with typing, duplication, translation and other services.

Office hours: Mon-Fri 0900-1300 and 1400-1700, Sat 0900-1300. Some Chinese offices open earlier than 0900 and close later than 1700.

Business Contacts

Hong Kong Trade Development Council in the UK
16 Upper Grosvenor Street, London W1K 7PL, UK
Tel: (020) 7616 9500.
Website: http://uk.tdctrade.com

Hong Kong Trade Development Council
38th Floor, Office Tower, Convention Plaza, 1 Harbour Road, Wan Chai, Hong Kong (SAR)
Tel: 183 0668.
Website: www.tdctrade.com

Hong Kong General Chamber of Commerce
22nd Floor, United Center, 95 Queensway, Hong Kong (SAR)
Tel: 2529 9229.
Website: www.chamber.org.hk

Hong Kong Convention and Exhibition Center
1 Expo Drive, Wan Chai, Hong Kong (SAR)
Tel: 2582 8888.
Website: www.hkcec.com.hk

AsiaWorld Exhibitions Center
Hong Kong International Airport, Lantau
Tel: 3606 8828.
Website: www.asiaworld-expo.com

Conferences & Conventions

The Hong Kong Convention and Incentive Travel Bureau is a division of the Hong Kong Tourism Board, which specializes in promoting Hong Kong, branded as ‘Asia's World City', as a leading venue. It publishes lavish and detailed brochures showcasing the region for conference and incentive planners, together with a glossy catalog of promotional material, a directory of associations and societies in Hong Kong and an excellent website (www.discoverhongkong.com). The main expo venues are the Hong Kong Convention and Exhibition Center and the AsiaWorld Exhibitions Center.