{"id":29496,"date":"2022-06-21T23:02:44","date_gmt":"2022-06-21T16:02:44","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=29496"},"modified":"2022-06-21T23:02:44","modified_gmt":"2022-06-21T16:02:44","slug":"hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\/","title":{"rendered":"Hong Kong\u2019s economy recovers ahead of its 25th year since returning to China"},"content":{"rendered":"

Hong Kong also ranked fifth in an annual global ranking of the world\u2019s most competitive countries and regions<\/span><\/p>\n

\"\"
Upon further analysis, it was revealed that international trade was a major contributor to the economy. saiko3p\/Shutterstock<\/figcaption><\/figure>\n

The 25th anniversary of Hong Kong\u2019s return to China will be celebrated on 1 July 2022. CGTN looked at some major indicators to see how Hong Kong’s economy and society have changed since the handover.<\/span><\/p>\n

In the last 25 years, Hong Kong’s overall economy has more than doubled. GDP has increased from HKD1.37 trillion (~USD176 billion) in 1997 to HKD2.89 trillion (~USD368 billion) in 2021.<\/span><\/p>\n

Furthermore, <\/span>The Star<\/span><\/a> reported that Hong Kong climbed to the fifth spot this year in an annual global ranking of the world\u2019s most competitive countries and regions. This is due to its improved economic performance despite the ongoing global pandemic.<\/span><\/p>\n

In terms of economic competitiveness, Hong Kon\u2019s economic performance improved significantly, especially in the domestic economy subfactor and international trade.<\/span><\/p>\n

More: Hong Kong\u2019s economy projected to grow 2\u20133.5% in 2022<\/strong><\/a><\/p>\n

Upon further analysis, it was revealed that international trade was a major contributor to the economy. According to the World Trade Organization (WTO), in 2020, Hong Kong was the world’s sixth-largest merchandise trade exporter. Hong Kong was Asia’s sixth-largest exporter of commercial services and third-largest exporter of merchandise products.<\/span><\/p>\n

Since 1985, Hong Kong\u2019s largest trading partner has been Mainland China. From 1978 to 2020, its contributions to Hong Kong\u2019s total global trade went from 9.3 percent to 51.8 percent, reported <\/span>CGTN<\/span><\/a>.<\/span><\/p>\n

It also has a strong trade relationship with Taiwan. According to Hong Kong’s <\/span>Trade and Industry Department<\/span><\/a>, re-export trade between the two economies through Hong Kong amounted to HKD470.7 billion (~USD61.1 billion) in 2020.<\/span><\/p>\n

Mainland China fell to the 17th spot, reversing a recent increasing trend, according to the report, due to a sluggish economic recovery exacerbated by the Zero-COVID policy.<\/span><\/p>\n

Taiwan rose one spot to seventh due to its consistent performance in the government efficiency factor, which contributed to improvements in tax policy, institutional frameworks, and business regulations.<\/span><\/p>\n

The Property Report editors wrote this article. For more information, email: propertyreport@propertyguru.com<\/a>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Hong Kong also ranked fifth in an annual global ranking of the world\u2019s most competitive countries and regions<\/p>\n","protected":false},"author":12,"featured_media":29497,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[464],"class_list":["post-29496","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-economy","news_country-hk-macau","news_author-property-report"],"acf":[],"yoast_head":"\nHong Kong\u2019s economy recovers ahead of its 25th year since returning to China | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.asiapropertyawards.com\/en\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hong Kong\u2019s economy recovers ahead of its 25th year since returning to China | Asia Property Awards\" \/>\n<meta property=\"og:description\" content=\"Hong Kong also ranked fifth in an annual global ranking of the world\u2019s most competitive countries and regions\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.asiapropertyawards.com\/en\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\/\" \/>\n<meta property=\"og:site_name\" content=\"Asia Property Awards\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/asiapropertyawards\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-21T16:02:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2022\/06\/shutterstock_1928949086.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Contributing Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@AsiaPropAwards\" \/>\n<meta name=\"twitter:site\" content=\"@AsiaPropAwards\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Contributing Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\\\/\"},\"author\":{\"name\":\"Contributing Writer\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#\\\/schema\\\/person\\\/60e0732a149bc2fbe99629e45c8be3c2\"},\"headline\":\"Hong Kong\u2019s economy recovers ahead of its 25th year since returning to China\",\"datePublished\":\"2022-06-21T16:02:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\\\/\"},\"wordCount\":375,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2022\\\/06\\\/shutterstock_1928949086.jpg\",\"keywords\":[\"economy\"],\"articleSection\":[\"News\",\"Property Report\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\\\/\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\\\/\",\"name\":\"Hong Kong\u2019s economy recovers ahead of its 25th year since returning to China | Asia Property Awards\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2022\\\/06\\\/shutterstock_1928949086.jpg\",\"datePublished\":\"2022-06-21T16:02:44+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2022\\\/06\\\/shutterstock_1928949086.jpg\",\"contentUrl\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2022\\\/06\\\/shutterstock_1928949086.jpg\",\"width\":1000,\"height\":667,\"caption\":\"Upon further analysis, it was revealed that international trade was a major contributor to the economy. saiko3p\\\/Shutterstock\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Hong Kong\u2019s economy recovers ahead of its 25th year since returning to China\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/\",\"name\":\"Asia Property Awards\",\"description\":\"PropertyGuru Asia Property Awards\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#organization\",\"name\":\"Asia Property Awards\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Trophy_2.png\",\"contentUrl\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Trophy_2.png\",\"width\":1920,\"height\":1080,\"caption\":\"Asia Property Awards\"},\"image\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/asiapropertyawards\",\"https:\\\/\\\/x.com\\\/AsiaPropAwards\",\"https:\\\/\\\/www.instagram.com\\\/asiapropertyawards\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/showcase\\\/asia-property-awards\",\"https:\\\/\\\/www.youtube.com\\\/channel\\\/UCCMEFMU-KW5dEKfb5dPTL9Q\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#\\\/schema\\\/person\\\/60e0732a149bc2fbe99629e45c8be3c2\",\"name\":\"Contributing Writer\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/author\\\/intern\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Hong Kong\u2019s economy recovers ahead of its 25th year since returning to China | Asia Property Awards","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.asiapropertyawards.com\/en\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\/","og_locale":"en_US","og_type":"article","og_title":"Hong Kong\u2019s economy recovers ahead of its 25th year since returning to China | Asia Property Awards","og_description":"Hong Kong also ranked fifth in an annual global ranking of the world\u2019s most competitive countries and regions","og_url":"https:\/\/www.asiapropertyawards.com\/en\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\/","og_site_name":"Asia Property Awards","article_publisher":"https:\/\/www.facebook.com\/asiapropertyawards","article_published_time":"2022-06-21T16:02:44+00:00","og_image":[{"width":1000,"height":667,"url":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2022\/06\/shutterstock_1928949086.jpg","type":"image\/jpeg"}],"author":"Contributing Writer","twitter_card":"summary_large_image","twitter_creator":"@AsiaPropAwards","twitter_site":"@AsiaPropAwards","twitter_misc":{"Written by":"Contributing Writer","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.asiapropertyawards.com\/en\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\/#article","isPartOf":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\/"},"author":{"name":"Contributing Writer","@id":"https:\/\/www.asiapropertyawards.com\/en\/#\/schema\/person\/60e0732a149bc2fbe99629e45c8be3c2"},"headline":"Hong Kong\u2019s economy recovers ahead of its 25th year since returning to China","datePublished":"2022-06-21T16:02:44+00:00","mainEntityOfPage":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\/"},"wordCount":375,"commentCount":0,"publisher":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/#organization"},"image":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\/#primaryimage"},"thumbnailUrl":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2022\/06\/shutterstock_1928949086.jpg","keywords":["economy"],"articleSection":["News","Property Report"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.asiapropertyawards.com\/en\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.asiapropertyawards.com\/en\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\/","url":"https:\/\/www.asiapropertyawards.com\/en\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\/","name":"Hong Kong\u2019s economy recovers ahead of its 25th year since returning to China | Asia Property Awards","isPartOf":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\/#primaryimage"},"image":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\/#primaryimage"},"thumbnailUrl":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2022\/06\/shutterstock_1928949086.jpg","datePublished":"2022-06-21T16:02:44+00:00","breadcrumb":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.asiapropertyawards.com\/en\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.asiapropertyawards.com\/en\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\/#primaryimage","url":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2022\/06\/shutterstock_1928949086.jpg","contentUrl":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2022\/06\/shutterstock_1928949086.jpg","width":1000,"height":667,"caption":"Upon further analysis, it was revealed that international trade was a major contributor to the economy. saiko3p\/Shutterstock"},{"@type":"BreadcrumbList","@id":"https:\/\/www.asiapropertyawards.com\/en\/hong-kongs-economy-recovers-ahead-of-its-25th-year-since-returning-to-china\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.asiapropertyawards.com\/en\/"},{"@type":"ListItem","position":2,"name":"Hong Kong\u2019s economy recovers ahead of its 25th year since returning to China"}]},{"@type":"WebSite","@id":"https:\/\/www.asiapropertyawards.com\/en\/#website","url":"https:\/\/www.asiapropertyawards.com\/en\/","name":"Asia Property Awards","description":"PropertyGuru Asia Property Awards","publisher":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.asiapropertyawards.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.asiapropertyawards.com\/en\/#organization","name":"Asia Property Awards","url":"https:\/\/www.asiapropertyawards.com\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.asiapropertyawards.com\/en\/#\/schema\/logo\/image\/","url":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/12\/Trophy_2.png","contentUrl":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/12\/Trophy_2.png","width":1920,"height":1080,"caption":"Asia Property Awards"},"image":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/asiapropertyawards","https:\/\/x.com\/AsiaPropAwards","https:\/\/www.instagram.com\/asiapropertyawards\/","https:\/\/www.linkedin.com\/showcase\/asia-property-awards","https:\/\/www.youtube.com\/channel\/UCCMEFMU-KW5dEKfb5dPTL9Q"]},{"@type":"Person","@id":"https:\/\/www.asiapropertyawards.com\/en\/#\/schema\/person\/60e0732a149bc2fbe99629e45c8be3c2","name":"Contributing Writer","url":"https:\/\/www.asiapropertyawards.com\/en\/author\/intern\/"}]}},"_links":{"self":[{"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/posts\/29496","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/comments?post=29496"}],"version-history":[{"count":0,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/posts\/29496\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/media\/29497"}],"wp:attachment":[{"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/media?parent=29496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/categories?post=29496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/tags?post=29496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}