Women and the Economy in Hong Kong

The legal status of women in Hong Kong is equal to that of men, with the exception of sexual discrimination. However, the government generally enforces the Equal Opportunities Commission’s mandate of promoting equality of opportunity between men and women. Although women are generally treated equally in Hong Kong, they do face discrimination, particularly in areas such as employment, salary, inheritance, and promotion. Read on for more information. Also read about Hong Kong’s labor force.

Hong Kong’s economic growth

Hong Kong’s economy is showing signs of slowing, despite the low unemployment rate and moderate growth over the last decade. Its economy has also been bolstered by greater integration with mainland China, which has resulted in an increased focus on services. With a manufacturing production network in the Pearl River Delta region, the territory is now positioned to develop high-value-added transport services. Meanwhile, the economy is also expected to grow a moderate one to two percent in 2019, which is lower than the government’s initial forecast. However, some economists have predicted a modest two percent growth rate for the year. Exports, in particular, will likely suffer, as a decline in mainland Chinese visitors will eat into Hong Kong’s economic growth.

While Hong Kong’s exports increased 26% last year, imports rose by 24.3%, boosted by increased trade with mainland China, the U.S., and the EU. Despite the strong economic performance, the government has received pressure from lawmakers and businesses to roll out a new round of spending vouchers. Meanwhile, renewed COVID curbs will likely hamper the economy. Nevertheless, the government has promised new aid to certain business sectors.

Its political system

Hong Kong’s new governing system, called the “executive-led” system, has defied the will of the people of the city. In the Basic Law, the Chinese Communist Party rules over the legislative and judicial branches of government. In Hong Kong, legislators may only propose bills related to government policies with CE approval. Amendments to government-proposed bills are also difficult due to the voting mechanism. Although there are a number of pro-democracy representatives in the city, there are currently only a few seats.

Elections for the Legislative Council are held every four years, and the District Councils have traditionally been ignored by both the opposition camp and the electorate. Nonetheless, they have become a major arena for political parties to build influence. In fact, almost ten percent of the Chief Executive’s nominating committee originates from the District Councils, making the upcoming elections the most closely watched in the history of District Councils. While Hong Kong has three branches of government, the Communist Party of China reigns supreme over them all.

Its labor force

The low wage in Hong Kong is a result of a lack of skilled labor, especially in service industries. According to the World Bank, there are 5.8 million people in Hong Kong, and just over 2.8 million workers. The number of people on public assistance in Hong Kong is 74,806, or about one percent of the population. While most workers earn enough money to survive, the government taxes the labor force at a relatively low rate – just fifteen percent for individuals and one7.5 percent for businesses. Nevertheless, the average salaryman is expected to work long hours and arrive home late at night.

While mortality rates are fairly stable over short periods, fertility has long been decreasing. The bulk of the labor force growth in recent years has been attributed to net migration into the territory. Nonetheless, out-migration and in-migration in Hong Kong are highly sensitive to political and economic conditions. Since many residents have dual citizenship, it’s difficult to predict what the future holds in terms of immigration. Even with a strong labor force growth, the growth may not be sustained over time.

Its trading partners

The following list lists the top 25 countries in terms of Hong Kong’s trade with them. In terms of dollar value, these countries purchased over nine-tenths of Hong Kong’s exports in 2021. Of these, the fastest growing purchases of Hong Kong exports came from Macau, Mexico, and South Korea. Although these countries were relatively small in terms of trade volume, their overall purchasing power increased by a remarkable 25.

Hong Kong’s trading partners include China, Singapore, Japan, and South Korea. Because Hong Kong is an export-oriented economy, its trading partners are largely oriented towards the export of goods. As a result, the HKSAR is an important player in multilateral trade negotiations, such as the World Trade Organization. Hong Kong’s government is committed to participating in WTO-conforming trade agreements with its trading partners.

Its legal system

The Judiciary of Hong Kong is independent of the Executive Council and other branches of government and is composed of five professional divisions. The Secretary for Justice serves as the executive’s chief legal adviser. The Court hears cases in all areas of law, including criminal proceedings and civil disputes. The Judiciary also has a role in the administration of justice. In addition to trial courts, the Hong Kong government has several tribunals which hear cases, including the Court of Final Appeal, Labour Tribunal, Small Claims Tribunal and Obscene Articles Tribunal.

The oath-taking controversy is an example of how politics is intertwined with the legal system. While a country’s constitution allows people to pass on their right to abode to their children, Hong Kong does not, and therefore, there is no guarantee that a child born in one country will automatically be given the right to live in another. For this reason, many foreign born children of Hong Kong will remain in the country.