International Marketing Group Presentation 1 Factors that make HongKong\'s Foreign Trade so successful PDF

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Assessment 1 Group Presentation Factors that make Hong Kong's Foreign Trade so successful Sem2021-2022...

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Good morning everyone, my name is Wang Xinyi. Today, our group will tell you about main factors that make Hong Kong's foreign trade so successful. First of all, I will introduce the basic situation of Hong Kong, including the history of development, one country-two systems, economic development and other basic conditions, and then I will elaborate on Hong Kong's preparations for the foreign trade market, as well as the geographical environment to bring Hong Kong's logistics and transportation advantages. Hong Kong, the Hong Kong Special Administrative Region of the People's Republic of China, is located in the south of China, across the sea from Macau in the west, adjacent to Shenzhen in the north, and adjacent to the Wanshan Islands in Zhuhai in the south. The regional scope includes Hong Kong Island, Kowloon, the New Territories and 262 surrounding islands. Since World War II, Hong Kong has experienced rapid economic and social development, becoming not only one of the "Four Little Dragons of Asia", but also one of the wealthiest, most economically developed and highest living standards in the world. The economy of Hong Kong is a highly developed freemarket economy. It is characterized by low taxation, almost free port trade and a well-established international financial market. Mizuoka, Fujio 2018 ， Contrived Laissez-Faireism: The Politico-Economic Structure of British Colonialism in Hong Kong p26, ISBN 978-3319697932, viewed at 5 November 2021. On July 1, 1997, the Chinese government resumed the exercise of sovereignty over Hong Kong. Hong Kong maintains its original capitalist system and enjoys a high degree of autonomy in all matters other than foreign affairs and national defense. Hong Kong is a highly prosperous free port and an international metropolis, known as the "New York Harbor" together with New York and London. It is the third largest financial center in the world, an important international financial, trade and shipping center, and an international innovation and technology center. Hong Kong's GDP showed a successive yearly increase from 2010 until the end of 2019, growing from HK$1,776,332 million to HK$2,865,659 million, while GDP per capita increased from HK$252,887 to HK$381,711. These two increased by about 161% and 150% respectively. However, due to the spread of the new crown epidemic in early 2020, the overall GDP and GDP per capita at the end of 2020 both decline to some extent to HK$2,710,370 million and HK$362,310 million respectively, down by 6.1% and 5.8% respectively from 2019. However, with the gradual easing of foreign trade by countries in 2021, the relevant values are expected to rebound in 2021 Jane 2017, Hong Kong's GDP by year at a glance, viewed at 6 November 2021, https://www.maigoo.com/news/601140.html One of the reasons why Hong Kong is so successful in foreign trade is that distributors often go to do market research, more market research can be

more proficient in mastering the environment of the target market, so as to manufacture products with a high degree of market fit. In addition, the geographical location of Hong Kong is surrounded by the sea on three sides, surrounded by many coastal ports, by the late 20th century, Hong Kong was the seventh largest port in the world and second only to New York City and Rotterdam in terms of container throughput. Wikipedia 2021, Economy of Hong Kong, viewed at 6 November 2021, https://en.wikipedia.org/wiki/Economy_of_Hong_Kong This allows Hong Kong to conduct a large number of foreign trade transactions with the Southeast Asian region. Although Hong Kong is far away from the inland, East Asia, Europe and the United States, it is close to many large cities on the southern coast of China (Guangzhou, Shenzhen, Xiamen, Zhuhai), so it can reduce tariff costs to a certain extent by transporting goods to the eastern coastal cities and transferring them to Europe, the United States, East Asia and the Chinese inland market for sale through these areas. Next, Liu Xiaoyi will analyze the tariff aspects of Hong Kong's strong exportbased economic system and elaborate on the relevant policies made by the Hong Kong government...