HK Economy Leads Asia with More Than 10.5 % Growth Hong Kong's economy exhibited a strong momentum of all-round recovery in 2000 after signs of recovery emerged in 1999. Statistics released continually indicate that Hong Kong's economy has at least set six new records in the past year.
The annual economic growth in 2000 exceeded 10.5 percent, the highest over the past 13 years in Hong Kong , also the greatest in the Asia-Pacific region and even the whole world.
Foreign trade rose by a large margin in 2000. According to statistics, in the first 11 months of 2000, the value of imports and exports increased by 17.8 percent over the same period of the previous year, with transit goods value rising by 19.2 percent, exports value of Hong Kong-made commodities increasing by 8 percent and imports by 20.4 percent.
Tourist industry, an important pillar industry of Hong Kong, witnessed a fast growth. The number of tourists to Hong Kong topped 13.06 million (person/time) last year, up 15 percent over 1999, surpassing the record high of 12.97 million in 1996.
Foreign exchange reserves reached US$ 107.5 billion, outdoing Taiwan to rank third just behind Japan and China's inland in the world.
Hong Kong experienced a substantial growth in air transport of freights and passengers. Planes flying in and out of Hong Kong International Airport increased by 8.7 percent on 1999 with the number of passengers hitting 33.4 million and freight transport totaling 2.24 million tons, respective increases of 9.8 percent and 13.3 percent over 1999.
The number of regional headquarters (branch offices) of registered foreign companies in Hong Kong saw a remarkable increase. By the end of last year, such foreign offices numbered more than 3,000, a 20 percent rise over the preceding year. This progress serves to prove that international businesses see Hong Kong's economic prospect and business-operating environment as promising.
By PD Online staff member Li Yan
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