Hong Kong
- Author: United Nations Economic and Social Commission for Asia and the Pacific
- Main Title: Economic and Social Survey of Asia and the Far East 1953 , pp 55-57
- Publication Date: December 1953
- DOI: https://doi.org/10.18356/ba470179-en
- Language: English
Hong Kong’s economy depends primarily on its entrepot trade. With an area of 391 square miles and a population of 2.25 million, it ranked fifth in 1950 among ECAFE countries in total value of trade, those with larger trade being China (mainland and Taiwan), Japan, India and Malaya. With deep water wharves, speed in turning round ships and repairing them, excellent storage facilities, low port dues and handling charges, and duty-free entry of most goods, it has served as an important distributing centre in the trade between China, South-East Asian countries and the rest of the world. Continuous political stability, excellent banking and insurance services and the existence of a more or less free exchange market have also facilitated its entrepot trade.
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