Located on the southern coast of the country and heart of Asia, Hong Kong enjoys fortuitous geographic advantage and is a world city leveraging on the Mainland while engaging the world. Hong Kong is well connected to Asia's key markets, making it an ideal location for businesses to tap into the multitude of opportunities in the Mainland and Asia-Pacific region.
Impressive international reputations
- Hong Kong was ranked by Canada's Fraser Institute the freest economy in the world in its Economic Freedom of the World: 2022 Annual Report.
- Hong Kong ranked third in the World Economic Forum's 2019 Global Competitiveness Report, up four places.
- Hong Kong ranked the third easiest place to do business by the World Bank's Doing Business 2020 Report, up one place from last year.
- Hong Kong ranked fourth in the Global Financial Centres Index (GFCI) 32 Report published by the Z/Yen from the United Kingdom and the China Development Institute from Shenzhen.
- Hong Kong was recognised by the International Institute for Management Development World Competitiveness Yearbook 2022 as the fifth most competitive economies in the world.
- According to the World Trade Organization, Hong Kong ranked the sixth largest trading entity in the world in 2021.
Hong Kong's unique advantages in the Greater Bay Area
- Being the most international city in the Greater Bay Area, Hong Kong has a business-friendly environment, good tradition of the rule of law, free economic system, and well-established information technology infrastructure and financial system, as well as a wealth of high-end talents and professional services with extensive knowledge on global markets.
Dedicated Chapter on Hong Kong and Macao in the Outline of the 14th Five-Year Plan for National Economic and Social Development of the People's Republic of China and the Long-Range Objectives Through the Year 2035 (the 14th Five-Year Plan)
- The Dedicated Chapter on Hong Kong and Macao in the 14th Five-Year Plan acknowledges the functions and positioning of Hong Kong in the development of our country which includes support for Hong Kong to enhance its status as an international financial, transportation and trade centre; strengthening its status as a global offshore Renminbi business hub, an international asset management centre and a risk management centre; establishing itself as a centre for international legal and dispute resolution services in the Asia-Pacific region; and promote service industries for high-end and high value-added development. Furthermore, the 14th Five-Year Plan raises for the first time the support for Hong Kong to enhance its status as an international aviation hub, to develop into an international innovation and technology hub and a regional intellectual property trading centre, and to develop into a hub for arts and cultural exchanges between China and the rest of the world.
- On high-quality GBA development, the 14th Five-Year Plan mentions the deepening and widening of mutual access between the financial markets of Hong Kong and the Mainland and strengthening exchanges and co-operation between Hong Kong and the Mainland on different fronts, and, for the first time, includes the Shenzhen-Hong Kong Loop as a major platform of co-operation in the GBA.
- Hong Kong will proactively become a participant in domestic circulation and a facilitator in international circulation amidst the 'dual circulation' development strategy of our country with the support of the 14th Five-Year Plan. Hong Kong will take the GBA development as the best entry point to better integrate into the overall development of our country, which will bring continuous impetus to Hong Kong's economy.