Page 176 - AmCham South China 2026 Special Report on the State of Business in South China

Hong Kong

The economy the agenda, particularly in developing emerging

sectors, transforming traditional manufacturers,
at the southeastern tip of promoting research commercialization and
Situated China, Hong Kong lies at deepening the talent pool.
the heart of East Asia. Since its return to China in
1997, it has operated under the ¡°one country, two
systems¡± framework outlined in the Basic Law. Market highlights
Hong Kong is one of the most services-oriented
economies in the world, and under its laissez- According to the latest UNCTAD World
faire system, its financial sector has developed Investment Report , global FDI inflows to Hong
147
into a leading regional center. In addition, Hong Kong amounted to US$126 billion in 2024, ranked
Kong continues to play a pivotal role as a gateway third globally, behind the United States (US$279
for national merchandise and capital flows. billion) and Singapore (US$143 billion). In terms of
FDI outflows, Hong Kong ranked fifth globally with
Hong Kong¡¯s economy expanded 2.5% YoY US$87 billion.
in 2024, driven by robust growth in foreign
trade. Total exports of goods resumed growth Hong Kong is a free port and does not levy
amid improved external demand, while services customs tariffs on imports or exports. Most
exports increased on the back of rising visitor products do not require licenses to enter or leave
arrivals and stronger cross-border economic Hong Kong, and where licenses or notifications
activities. Despite ongoing external uncertainties, are required, they serve only to fulfill obligations
Hong Kong¡¯s economy continued to grow steadily, under international agreements or to maintain
recording a growth of 3.1% YoY in Q2 2025. public health, safety or security. Resilient external
Domestic private consumption expenditure also demand, combined with front-loading shipments,
returned to moderate growth of 1.9% YoY after drove total exports of goods to accelerate YoY
four consecutive quarters of decline 145 . growth of 11.5% in Q2 2025, following an 8.4%
increase in the preview quarter. Thanks to strong
Riding the ¡°going global¡± wave, Hong Kong inbound tourism and sustained expansion in cross-
has strengthened its role as a bridge connecting boundary traffic, exports of services also grew
Chinese enterprises with international markets. By notably by 7.5% YoY during the same period .
148
the end of 2024, the city attracted 2,620 mainland Looking ahead, uncertainty surrounding US tariff
MNCs to set up offices, a 46% increase compared policies on certain commodities persists, and the
146
with 2019. impact on international trade flows may gradually
surface in the coming months.
Looking ahead, Hong Kong¡¯s overall economic
growth is expected to accelerate from 2026, Hong Kong is not only a major banking and
supported by stronger public investment in financial center in Asia Pacific but also ranks as the
key projects such as the Northern Metropolis. world¡¯s third leading financial center, according to
Fostering new quality productive forces is high on
147 UNCTAD World Investment Report 2025, https://
145 The Census and Statistics Department of the HK- unctad.org/system/files/official-document/wir2025_
SAR, https://www.censtatd.gov.hk/en/page_1226.html en.pdf
146 https://baijiahao.baidu.com/s?id=1833233943275 148 The Census and Statistics Department of the HK-
791617&wfr=spider&for=pc SAR, https://www.censtatd.gov.hk/en/scode230.html

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