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Hong Kong

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Business and Politics in Asia's Key Financial Centres

Abstract

Hong Kong is currently Asia’s leading IFC. It owes its success to its low taxes, sound legal system, efficient regulatory regime and proximity to China. The Hong Kong government’s commitment to free market principles, a laissez-faire model of financial governance and general political freedom has also contributed to the city’s attractiveness as a location for doing business and expatriate living. This chapter discusses Hong Kong’s development as an IFC by focusing on its determinants of comparative advantage, model of financial governance, regulatory regime, financial policy mix and financial policy subsystem.

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Notes

  1. 1.

    The Basic Law of the Hong Kong Special Administrative Region of the People’s Republic of China, Chapter V, Sect. 1, Article 110.

  2. 2.

    Financial services represent one of Hong Kong’s four “pillar economic sectors” and account for approximately 16.5 % of GDP value added. HKTDC Research, Economic and Trade Information on Hong Kong, 2 June 2015 http://hong-kong-economy-research.hktdc.com/business-news/article/Market-Environment/Economic-and-Trade-Information-on-Hong-Kong/etihk/en/1/1X000000/1X09OVUL.htm.

  3. 3.

    Hong Kong Basic Law, Article 109.

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Authors and Affiliations

  1. Nanyang Technological University, Singapore, Singapore

    J. J. Woo

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  1. J. J. Woo
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Woo, J.J. (2016). Hong Kong. In: Business and Politics in Asia's Key Financial Centres. Springer, Singapore. https://doi.org/10.1007/978-981-287-985-1_4

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  • DOI: https://doi.org/10.1007/978-981-287-985-1_4

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