Gross Domestic Product (GDP)

In 2010, the preliminary GDP of Hong Kong was HKD 1,748,090 million, growing 7.8% from 2009.

(Source: CSD)

(Source: CSD)

Gross National Income (GNI)

In 2010, GNI per capita at PPP was USD 45,090, compared to USD 38,675 in 2005.

(Source:UNDP )

Income tax rate

Income tax rates for an individual vary from 2% to 17% based on the income slabs.

Following are the income tax rates and the corresponding income levels:

(Source: Gov.hk)

Inflation rate

In 2009, the government of Hong Kong introduced temporary waivers and subsidies in electricity services, decreasing the inflation rate to 0.55%. In 1991, the country recorded its highest inflation rate, 11.26%.

(Source: World Bank)

Foreign Direct Investment (FDI)

In foreign investment inflows, the country is ranked 4^th by the United Nations. FDI inflow stood at USD 48.4 billion in 2009, decreasing 19% compared to 2008.

(Source: China Business News)

Central bank assets

(Source: HKMA)

Consumer Price Index (CPI)

The country reported composite CPI was 114.4 in December 2010.

The following table shows CPI during 2009 and 2010:

(Source: CSD)

Interest rates

Interest rates for both time and saving deposits showed a decline of CAGR 49.23% from 2000 to 2009.

(Source: CSD)

Money supply

Hong Kong has a 3-level money supply arrangement: M1, M2 and M3.

M1 includes the total legal notes & coins and demand deposits with licensed banks.

M2 is the total of M1, savings and time deposits with licensed banks and bank-issued negotiable certificates of deposits (NCDs) to the non-authorized institutions.

M3 includes M2, customer deposits and NCDs with the restricted licence banks and deposit-taking companies.

(Source: CSD)

Currency in circulation

Total currency in circulation (notes and coins), was reported at HKD 214,666 million in 2010 (till Q3).

(Source: CSD)

Government expenditure

In 2010, total Government expenditure was accounted at HKD 237,295 million, decreasing 9.01% over 2009.

(Source: CSD)

Official exchange rate

The official exchange rate for HKD in 2010 was 7.78 for US Dollars (USD) and 10.40 for Euro (EUR).

(Source: CSD)

The average exchange rates (yearly) of HKD from 2001 to 2010 were:

(Source: CSD)

Government finances

Fiscal balance

During 2009-2010 year, the general government account reported a fiscal surplus of HKD 21,364 million.

p=preliminary

(Source: CSD)

Total revenue

The government recorded a revenue of HKD 318,442 million during the 2009-2010 year, which includes total operating revenue of HKD 262,860 million and total capital revenue of HKD 55,582 million.

(Source: CSD)

(Source: CSD)

(Source: CSD)

Tax revenue

Total revenue from taxes was recorded at HKD 207,865 million in 2010, reflecting a decline of 4.83% from 2009.

(Source: CSD)

Current account balance

In 2010, the preliminary current account balance of Hong Kong was recorded at HKD 114,980 million.

p=preliminary

(Source: CSD)

Balance of payments

In 2010, the preliminary overall balance of payments was registered at HKD 71,086 million and the current account balance for the same period is recorded at HKD 114,980 million.

p=preliminary

(Source: CSD)

Hong Kong employs a total labour force of around 3,700,000 people as of December 2010, increasing 1.3% from the previous year.

(Source: CSD)

Labour participation rate (LPR) till October 2010 was 68.9% amongst males and 52.2% among females. 

(Source: CSD)

Unemployment rate

Hong Kong had registered a decline in the unemployment rate from 2003 to 2008. However, due to the global recession it increased in 2009, but it further decreased in 2010.

(Source: CSD)

Wage structure

The average monthly wage rate for employees (up to the Supervisory Level) under all sectors was HKD 11,688 as of June 2010. 

(Source: CSD)

On an average, every male employee works for 48 hours/week and every female employee for 45 hours/week in all industries. Working hours are highest in the retail, food and accommodation industries, where every male employee works an average for 54 hours/week and every female employee works for 50 hours/week.

(Source: CSD)

Hong Kong is an autonomous administrative region of China. Under Hong Kong’s basic law, the country wholly governs defence and foreign affairs.  However, the other sectors are influenced by Chinese administration. This law was adopted on April 4, 1990, but has been in effect from July 1, 1997.

The Government is led by the Chief Executive and the Executive Council. The Chief Executive administers: the implementation of the basic law, decision making on policies, signing bills and budgets, and issuing executive orders. Whereas, the Executive Council looks after matters related to policies, introduction of bills to the Legislative Council and drafting of sub-ordinate legislation. The council is comprised of 15 principal officials and 14 non-official members, appointed by Chief Executive.

Government structure includes both Legislative and District councils. The Legislative council is responsible for governing and law enforcement.  The council is comprised of 60 members, of which 30 are directly elected by geographical constituencies and the remaining 30 are elected through functional constituencies. The 18 District councils throughout the nation have a total of 102 appointed and 405 elected members. These councils promote recreational, cultural and community activities.

(Source: Gov.hk)

Regulatory environment

Hong Kong is ranked 1^st on the 2011 Index of Economic Freedom, with an economic freedom score of 89.7 (out of 100), which has remained unchanged from the previous year.

(Source: Heritage.org)

(Source: Heritage.org)

Corruption perception

Hong Kong is ranked 13^th on the World’s Corruption Perception Index 2010. Its score is 8.4 (out of 10), making it one of the least corrupt countries in the world.

(Source: transperancy.org)

Freedom of information

Hong Kong is ranked 34^th on the Press Freedom Index of 2010.

(Source: Rsf.org)

Judicial system

The judicial system is an independent division of the Government. It consists of:

• Court of Final Appeal: the highest appellate court
• Court of Appeal: hears appeals from the Court of First Instance, the District Court, Lands Tribunal and other statutory bodies, on all civil and criminal matters
• Court of First Instance: hears appeals from Magistrates' Courts, Small Claims Tribunal, Obscene Articles Tribunal, Labour Tribunal and also fromthe  Minor Employment Claims Adjudication Board on civil and criminal matters
• District Court:hears civil disputes covering values from HKD 50,000 to HKD 1,000,000. It power to imprison is limited to 7 years
• Family Court: hears appeals on family matters such as welfare of children and divorce cases.
• Magistrates' Courts: hears cases of indictable and summary offences. It has the power to imprison for a period up to 3 years and fine not more than HKD 5,000,000. There are 7 such courts in Hong Kong
• Lands Tribunal: hears appeals and disputes related to lands and buildings
• Labour Tribunal:handles labour disputes where either the claim is of a value above HKD 8,000 or there are more than 10 claimants for the case.
• Small Claims Tribunal:hears appeals on civil matters, not exceeding value of HKD 50,000.
• Obscene Articles Tribunal: makes decisions on obscenity or indecency of any publicly displayed article.
• Coroner's Court: investigates deaths.
• Juvenile Court:hears charges against people below 16 years of age. Furthermore, it also issues care and protection orders for people up to age of 18.  

(Source: Hong Kong Judiciary)

In mid-2010, the population of Hong Kong was 7,067,800, increasing 0.9%from mid-2009. Specifically, females constitute to 53.16% of the entire population.

(Source: CSD)

(Source: CSD)

The average population density is about 6,480 people per sq km. Kwun Tong is most densely populated district of the country, with approximately 53,110 people per sq km. 

(Source: CSD,)

Between 2005 and 2010, the population of the country witnessed a stable growth rate. 

(Source: CSD)

In mid-2010, the majority of the population, about 44.36%, were between 15 and 44 years old and about 43.50% population were over 45.

(Source: CSD)

Birth and death rate

The crude birth rate during 2009 was 11.7 live births per 1,000 people, compared to 8.4 live births in 2005, making an increase of 8.64%.

(Source: Hong Kong factsheets)

In 2009, the death rate was 5.9 deaths per 1,000 people. Recently improved maternal and child health services realized a decrease in infant mortality rate.

(Source: Hong Kong factsheets)

(Source: Hong Kong factsheets)

Life expectancy

In 2009, the average life expectancy at birth was 79.8 years for males and 86.1 for females.

(Source: Department of Health and Hong Kong factsheets)

Infant mortality rate

In 2009, the country registered an infant mortality rate of 1.7 deaths per 1,000 live births.

(Source: Department of Health and Hong Kong factsheets)

Immigration

Population in Hong Kong includes foreigners from Indonesia – 147,883 (2.11%), Philippines – 140,708 (2.01%) and Thailand – 28,049 (0.40%).

(Source: Department of Health  and Hong Kong factsheets)

Human Development Index (HDI)

The country is ranked 21^st on the HDI 2010, which is based on factors such as life expectancy at birth, mean and expected years of schooling, and gross national per capita income.

(Source: HDR UNDP)

Literacy rate

By 2009: 5.3% people in the working age group (15 and above) were either uneducated or had attained only pre-primary education; 17% people completed primary education, 52.2% received secondary education and 25.4% achieved post-secondary education.

(Source: Gov.hk)

Education

In the academic year 2010-2011, there are 2,116 schools in Hong Kong and 61,354 teachers employed across all levels of education.

(Source: Education Bureau)

(Source: Education Bureau)

Healthcare

Hong Kong has a well established healthcare system, with 12,424 doctors, 2,126 dentists, and 38,641 nurses. Furthermore, the government’s department of health consists of 5,400 civil servants.

(Source: Department of Health)