Six economic areas april 2009 the task force on

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Unformatted text preview: ing force of Hong Kong's economic growth, providing impetus to growth of other sectors, and creating employment. Six Economic Areas April, 2009, the Task Force on Economic Challenges (“TFEC”) agreed to study how to further develop the following six economic areas where Hong Kong has enjoyed clear advantages: Education Medical Services Testing and Certification Environmental Industry Innovation and Technology Cultural and Creative Industries Policy Co-ordination Tourism: HK has recently abolished quota for mainland tourists – Individual Visit Scheme (IVS). More “two-way permits” are also issued for family visits. Financial markets: H-shares (since ‘92) and Red Chips. US dollar clearing in fall of 2000 promotes listing in US dollars, facilitating H-shares. HK could become world's largest stock market in the long run. Second Board established in Nov. 1999. Exchange rate stabilization: Important for market psychology during the AFC. In the long run, China's interest is best served by a more flexible exchange rate while HK's interest is best served by the Linked Rate. Closer Economic Partnership Arrangement (CEPA) Three Distinct Periods and Third Economic Restructuring The entire pre-World War II period – Entrepôt S...
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This document was uploaded on 03/26/2014.

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