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Hk Export Essay

4325 words - 18 pages

DSME 5011 - Economics

Clara Tak-Wai LAW

EXECUTIVE SUMMARY 1 2 INTROUDCTION BACKGROUND OF EXPORT TRADING 2.1 China 2.2 Hong Kong 3 TYPES OF EXPORT GOODS AND SERVICES 3.1 China 3.2 Hong Kong 4 ECONOMIC DEVELOPMENT 4.1 China 4.1.1 4.1.2 4.1.3 4.1.4 4.2.1 4.2.2 4.2.3 5 5.1 Participation of Global Trade Association Foreign Direct Investment Currency Valuation Structural Changes Free Trade Policy Close Economic Partnership Arrangement with Mainland China Availability of Venture Capital

4.2 Hong Kong

MARKET CHALLENGES AND TRENDS China’s Challenges 5.1.1 Inflation 5.1.2 Government Interference 5.1.3 Social Unrest 5.1.4 Unbalanced Regional Development 5.1.5 Low Domestic Consumption 5.1.6 ...view middle of the document...

The government’s focus on “inclusive growth together with economic rebalancing” is highlighted in the 12th 5-years plan to initiate more consumption over exports to cover the benefits of economic growth coving all-levels citizens. Hong Kong is well posited at the 11th largest trading economy in the world because of its strategic location in close proximity to China, trading freedom, low tax regime, strong legal system, free capital movements, and an-offshore exchanging renminbi (hereafter called “RMB”) city. Hong Kong’s merchandise exports comprising re-export and domestic exports, fell by 0.4% as compared to the 17.7% growth in the previous quarter of 2011. However, the share of export in GDP fell considerably from 32% to 25% in the last decades. Hong Kong export’s challenge is mix of the fluctuating goods demand from the US and EU under the global recession, local housing market bubble arising from the low interest rates and ample liquidity in the global financial system, elevated community prices, shortage labor and rising wage. Looking ahead, Hong Kong is well positioned to continue playing the important role of international trade centre by enhancing the integration with trading business with the Mainland China, shifting the physical trade to exports of service to play role as a “trading hob”, exploring new trading partner to leverage any market uncertainty, promoting high-technology and added-value industries and developing world-class professional education.

Macroeconomics Individual Paper

3

DSME 5011 - Economics

Clara Tak-Wai LAW

1

INTROUDCTION

This report is to examine the development of export sector in China and Hong Kong in the past 20 decades in respect of the economic, demographic, geographical and political views and the global economy. Undoubtedly, China is the most export-reliant country and its serious trade surplus was concerned internationally. Hong Kong’s export activities are dramatically changing since 80s to maintain a healthy economic growth. In the past decades, Hong Kong’s export competes fiercely with other Asian countries. The responsive measures for the challenges taken by China and Hong Kong are discussed.

2

BACKGROUND OF EXPORT TRADING
2.1 China Up to mid 2010, China has become the 1st exporters in the world and reaching the international share up to 60%. In August 2011, China exports were worth 173 billion USD. The export rate is kept growing that becomes a major component supporting China’s economic growth. Exports of goods and services constitute 40% of its GDP. GDP is recorded to rise to 9.5% in the 2nd quarter of 2011 which steadily rose 2.2% from the preceding quarter. The United States is the top export destination of China; other export destinations include European Union, Hong Kong, Japan, South Korea, Singapore, India and Australia. Most of them are considering import export partnership with China to create a bilateral trade which is beneficial to all of them.

Chart 1....

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