2019 Remains in Top Ranks - Doing Business in Hong Kong

2019 Doing Business in Hong Kong

This blog post, we bring you THREE (3) TOP reports from Wall Street Journal, World Economic Forum, and World Bank Group to allow a real comprehensive summary and analysis about the benefits on doing business in Hong Kong 2019.

Yes, we all heard that Hong Kong is a great place for doing business, the gateway to China, an international financial center. Yet, how great it is? Compare to which countries? In which aspects?

1) Index of Economic Freedom

Issued by The Heritage Foundation in partnership with WALL STREET JOURNAL

Rank number 1 out of 186 economies in 2019

Source:- http://www.heritage.org/index/country/hongkong

Here is the full report for you:- https://www.heritage.org/index/pdf/2019/countries/hongkong.pdf

2) Global Competitiveness Report

Issued by World Economic Forum

Rank the 3rd over 141 countries in 2019 report (the 7th over 138 countries in 2018 report)

Source:- http://reports.weforum.org/global-competitiveness-report-2019/economy-profiles/#economy=HKG

Here is the full report for you:-

http://reports.weforum.org/pdf/gci4-2019/WEF_GCI4_2019_Profile_HKG.pdf

3) Ease of Doing Business

Issued by World Bank Group

Rank the 3rd this year (the 4th over 190 countries in the last report)

Here is the full report for you:-

https://www.doingbusiness.org/content/dam/doingBusiness/country/h/hong-kong-china/HKG.pdf

To end with, we bring you some basic facts about Hong Kong from the Hong Kong government website, hope you guys like it.

Source:- https://www.gov.hk/en/about/abouthk/facts.htm

Official Name : Hong Kong Special Administrative Region of the People’s Republic of China (中華人民共和國 香港特別行政區)

Location : South-eastern tip of China

Area : 1,104km²

Land boundaries : China

Population : Approximately 7.52 million in 2019 (foreigner comprising 8%) Religion : Buddhism, Taoism, Christianity, Islam, Hinduism Language : Cantonese, Putonghua (Mandarin), English Climate : Sub-tropical, with temperatures dropping below 10 degrees Celsius in winter and exceeding 31 degrees Celsius in summer. It is warm, sunny and dry in autumn, cool and dry in winter, and hot, humid and rainy from spring to summer. Time zone : GMT +8 Currency : The legal tender in Hong Kong is the Hong Kong dollar (HKD) Exchange rate : Hong Kong Dollar is pegged to the US dollar at a rate of about 7.80 HKD to 1 USD Government : Hong Kong is a Special Administrative Region of the People's Republic of China. Following British rule from 1842 to 1997, China assumed sovereignty under the 'one country, two systems' principle. The Hong Kong Special Administrative Region's constitutional document, the Basic Law, ensures that the current political situation will remain in effect for 50 years. The rights and freedoms of people in Hong Kong are based on the impartial rule of law and an independent judiciary.

If you are planning or ready to set up your company in Hong Kong, please feel free to contact us at catcherbiz@outlook.com for assistance.