- 期刊
Structural Changes in the Economy of Hong Kong since 1997
摘要
The Asian financial crisis which became evident around 1997, the time of the return of Hong Kong to Chinese sovereignty, challenged the city to maintain its growth trajectory as the global metropolis for Asia. The subsequent severe recession caused a retrenchment in various intermediary sectors of the city's economy, especially in financial services. Recovery in sectors such as trade and financial services remained below the heady years of growth prior to 1997. Hong Kong has entered a new period of structural change with the increasing shift of back-office jobs to Guangdong province. More sophisticated intermediary service jobs such as those in private equity and hedge funds are growing, but their expansion is obscured for now in aggregate figures because exiting back-office jobs far out-number the new jobs. The city continues to expand as the regional corporate management centre for the world's leading firms from the most developed economies in Europe, North America, and Asia. Producer services are maintaining their high growth rate, positioning the city as a service provider for Asia. Global firms continue to validate Hong Kong as Asia's leading business centre, positioning it as a partner with London and New York. Hong Kong's growth benefits from the bonds with its sovereign power, China.