Analysis of the reasons contributing to hong kong's economic development

Abstract

Hong Kong, which was a small village in the 19th century; it used to be called the Pearl of the Orient in the 20th century. Formerly a British colony, it continued to develop after its return to China in 1997. Currently, it is the center of the World trade and finance, and is recognized as an Asia-centered city. This study analyzed Hong Kong's success factors in terms of companies, industries, location conditions and policies. Hong Kong has developed its financial services, trading, and logistics industries based on geographical advantage and deregulation. The tourism model is based on high-end shopping and business trips. Commercially exploitable underground resources and natural tourism resources are limited, but Hong Kong is considered to have intangible resources and competitiveness in terms of excellent education and transportation infrastructure, and is a fusion of eastern and western culture, diverse cultural backgrounds, and tolerance, and English and Chinese are used widely. Hong Kong has the advantages of convenient transportation, high transportation density, and infrastructure. Among Hong Kong's success factors are four major strategic industries (finance, logistics, tourism, and professional services), that are well developed and provide a global business environment. © 2019 Primrose Hall Publishing Group.