Country Brief - Hong Kong 2017

Country Brief - Hong Kong 2017
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Publication Date:

May, 2017



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Country Brief - Hong Kong 2017
Country Brief - Hong Kong 2017
Country Brief - Hong Kong 2017

Hong Kong is an advanced service-based economy whose economic growth in the past was founded on acting as a hub for trade and investment in Mainland China. This role is now changing and the government is looking to encourage more technology start-ups and creative and knowledge-based industries, as well as extending its financial expertise as part of the mainland’s strategy to develop links across central Asia, and to diversify its tourist offering to appeal to visitors from outside China. It continues to experience political conflict, as the central and local governments aim at greater economic and political integration into the mainland, while much of the Hong Kong population wants to emphasise its distinctive heritage and values, and to preserve its autonomy. Inequality continues to rise and poverty – especially among the elderly and non-working households – is a serious concern, with housing costs and scarcity a major factor causing widespread dissatisfaction, particularly among the young and single. The 14-19 age cohort has started to decline, relieving pressure on the local higher education system which makes a limited number of publicly-funded places available in its higher-prestige universities, but putting constraints on what has been an attractive market for overseas providers.

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