Unformatted text preview: ange Rate System
No capital controls, linked rate can avoid huge
fluctuation of currency. Confidence is important in
Slow and painful adjustment to regain competitiveness.
Financial Centre: stable and open economy can attract
the Chinese enterprises to raise fund. Knowledge-based economy
HK has no alternative but to become a knowledge-based
economy from manual economy.
However, HK lags in skills & in education relative to
Singapore, Taiwan, & S. Korea. HK’s technological
base is weak.
HK still has many assets: economic freedom, strong
legal system, free information flow, clean government,
simple taxation system, & stringent & transparent
regulatory system. HK is still gateway of China, which
is the world’s fastest growing economy.
HK is still one of the world’s busiest container port and
also airport for international cargo. Four Pillar Industries
In the 2002/03 Budget Speech, the Government
identified financial services, trading and logistics,
tourism, and producer and professional services as the
Four Pillar Industries in the Hong Kong economy.
They have been the driv...
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- Spring '14