People S Republic Of China Hong Kong Special Administrative Region1

This Selected Issues paper analyzes the long-term fiscal policy in Hong Kong Special Administrative Region (SAR) and the anticipated structural changes in the economy. The paper examines the factors that contributed to the stability of the banking system in Hong Kong SAR by assessing the roles played by banks, equity markets, and debt markets. The study describes a procedure to extract the probability distribution of future exchange rate movements based on currency option data. The paper also provides a statistical appendix report of the country.

This book with 24 essays will appeal to local and international readers interested in Hong Kong. The latter include the international financial and business community, researchers in Asian Studies, journalists and educated tourists. Published by City University of Hong Kong Press. 香港城市大學出版社出版。

This paperback reader provides the student and general reader with easy access to the major issues of the Hong Kong transition crisis. Contributors include both editors, as well as Frank Ching, Berry F. Hsu, Reginald Yin-wang Kwok, Peter Kwong, Julian Y.M. Leung, Ronald Skeldon, Alvin Y. So, Yun-wing Sung, and James T.H. Tang - the majority of whom live and work in Hong Kong and experience the transition firsthand, personally and professionally.

This 2019 Article IV Consultation with People’s Republic of China—Hong Kong Special Administrative Region (SAR) discusses that the economy is projected to start recovering next year, but the pace is expected to be gradual and both near- and medium-term risks have increased significantly, including from trade and technology tensions, ongoing social unrest, and structural challenges of insufficient housing supply and high income inequality. Hong Kong SAR is well placed to address both cyclical and structural challenges with its significant buffers thanks to its long history of prudent macroeconomic policies. Given that the fiscal framework permits deficits during economic downturns, government spending should be increased significantly in the areas of social safety nets, education/retraining, and infrastructure to cope with the cyclical downturn and address structural challenges of insufficient housing and high-income inequality. This should be complemented with measures to ensure fiscal sustainability and greater equity.

Fully covering the political and administrative structures of Hong Kong's system of government, this text--now in its fifth edition--is regarded by many as the definitive work on the subject. As readable and accessible as it is thorough and detailed, the book's most recent edition features an additional chapter on the political and governmental developments that Hong Kong has encountered since it returned to Chinese rule in July 1997 under the "one country, two systems" policy.