(Last updated: 5 Feb 2012)

Current business situation

The Department of Foreign Affairs and Trade (DFAT) provides advice for business travellers and tourists going to Hong Kong. This is regularly updated, and should be checked before planning travel.

Country facts

(Source: Department of Foreign Affairs and Trade - Country economic fact sheet)

Economic climate

Hong Kong is strategically located at the hub of North Asian markets. Some outstanding characteristics of Hong Kong’s economic and financial climate make it an ideal destination for Australian exports.

For the latest key economic indicators and statistics, please see the Department of Foreign Affairs and Trade country economic fact sheet.

Political climate

On 1 July 1997, the territory of Hong Kong reverted to Chinese sovereignty, resulting in the creation of the Hong Kong Special Administration Region (HKSAR).

As such, Hong Kong:

• Resides under a ‘one country, two systems’ arrangement with China.
• Has a politically stable environment.
• Remains a stable and safe country for Australians to do business.
• Continues to operate autonomously and from a business and cultural environment perspective little has changed.
• Welcomes new business and investment and continues to provide an open and free market.
• Has its own system of law, and the judicial system remains essentially the same.

The HKSAR Government comprises the Chief Executive, the Executive Council, the Administration, the Legislative Council and the Judiciary.

Trade relations and statistics

Historically, Hong Kong has prospered as both a conduit of goods in and out of China, and as a provider of services, such as financial, logistics and management services into the mainland.

While direct exports into China are increasing, Hong Kong's position and infrastructure make it a major gateway to China, especially the prosperous southern provinces. Hong Kong remains the biggest foreign investor into mainland China, and so the connections and networks into China by Hong Kong interests are second to none. Combine this with Hong Kong's well-established and transparent financial and legal frameworks, and Hong Kong firms remain a viable and logical choice as partners for business into mainland China.

Hong Kong's economic development has always been linked to trade with its regional neighbours, in particular mainland China. Now, as a Special Administrative Region of the People's Republic of China, its relationship is closer to China than it has ever been. Hong Kong governs itself autonomously, but China is responsible for all matters pertaining to foreign affairs and security.

According to the Department of Foreign Affairs and Trade, Australia features significantly in Hong Kong’s export and import profile.

Please see the Department of Foreign Affairs and Trade country economic fact sheet for key trade statistics.