a. Political Status

Hong Kong has been a British colony since 1841 until June 30, 1997. In September 1984, the PRC

and United Kingdom signed an international treaty - the Joint Declaration on the Question of Hong

Kong, calling for China to take back sovereignty over Hong Kong. Based on this Sino-British Joint

Declaration, Hong Kong was reverted to PRC effective July 1, 1997, and Hong Kong Special

Administrative Region (HKSAR) was established under the State Government of PRC.

b. Territory - Hong Kong consists of 236 islands of varying size, with a total land area of 413 square

miles - about one third the size of Rhode Island, the smallest of the 50 United States.

c. Population - Hong Kong has 6.3 million people, of which 98% are ethnic Southern Chinese.

d. Economy - Hong Kong has been transforming from an exotic colonial island into a world-class

trade, business, and financial center in the world. Hong Kong maintains one of the

most dynamic and richest markets in Asia. During the last 20 years, Hong Kong’s

GDP has tripled with an average annual growth rate of 7.5%. Current per capita GDP

(US$23,000 in 1995) has placed Hong Kong second among nations in Asia, only next

to Japan. Hong Kong’s current per capita GDP is already ahead of developed countries

including United Kingdom, Canada, and Australia.

e. International Trade - In 1998, Hong Kong ranked 8th largest trading economy in the world - its

development has been built on a foundation of foreign trade and international

investment. During the last 20 years, the international trading revenues has

grown more than 44 times in goods and more than 26 times in services.

f. Foreign Exchange Reserves - As of October 1997, Hong Kong’s total foreign exchange reserves is

Hong Kong’s strategic location makes it the gateway to China. At least 45% of China’s exports and

30% of its imports pass through Hong Kong. For U.S. firms, Hong Kong’s unparalleled access to the

Chinese mainland provides a unique gateway to the world’s largest emerging market - China. This is

well demonstrated by the huge increase in US-China trade in recent years.

There are approximately 38,000 U.S. citizens currently (in 1997) residing in Hong Kong and they

represent one of the most significant foreign presence. In addition, 12 States - California, Hawaii.

Illinois, Iowa, Maryland, Michigan, Mississippi, New York, North Carolina, Ohio, Rhode Island,

and Wisconsin, have established representative offices in Hong Kong.

a. Hong Kong Trade Development Council (HKTDC)

HKTDC is a quasi-official trade organization which offers a multitude of business services designed

to help U.S. firms enter the China/Hong Kong market. In addition to providing comprehensive

market intelligence, it also assists business in searching trade partners and identifying distribution

channels. American companies interested in doing business with China/Hong Kong are encouraged

to make use of the Council’s extensive market information. For more information, contact;

1). Hong Kong Trade Development Council

219 E. 46th St.

New York, NY 10017

Tel: 212-838-8688 Fax: 212-838-8941

2). Hong Kong Trade Development Council

350 S. Figueroa St., #282

Los Angeles, CA 90071

Tel: 213-622-3194 Fax: 213-613-1490

b. Hong Kong Economic & Trade Office (HKETO)

HKETO is Hong Kong Government’s official representative office in the U.S. It acts as a source of

information and its main function is to promote Hong Kong’s economic and trade policies in the

U.S. For more information, contact:

1). Hong Kong Economic & Trade Office

680 Fifth Ave., 22/F

New York, NY 10019

Tel: 212-265-8888 Fax: 212-541-7321

2). Hong Kong Economic & Trade Office

130 Montgomery St.

San Francisco, CA 94104

Tel: 415-835-9300 Fax: 415-421-0646