People's Republic of China-Hong Kong Special Administrative Region: 2011 Article IV Consultation Discussions

December 8, 2011

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People's Republic of China-Hong Kong Special Administrative Region: 2011 Article IV Consultation Discussions, (USA: International Monetary Fund, 2011) accessed September 18, 2024

Summary

The Executive Board of the IMF has concluded the consultation discussions with the Hong Kong Special Administrative Region (SAR). Hong Kong SAR has rebounded from the global financial crisis, and growth should be at 5¾ percent this year. Unemployment has fallen to low levels, and real incomes have grown, supporting consumption. It is noted that growth has rebounded thanks to the authorities’ policy response, highly flexible labor and product markets, and favorable spillovers from Mainland China. The progress on increasing trade settlement and issuing financial instruments denominated in renminbi has accelerated.

Subject: Banking, Credit, Currencies, Exchange rate arrangements, Exchange rates, Foreign exchange, Land prices, Money, Prices

Keywords: Convertibility undertaking, CR, Credit, Currencies, Europe, Exchange rate arrangements, Exchange rates, Global, Goods, Gross domestic product, Growth moderation, Hong Kong economy, Hong Kong SAR, ISCR, Land prices, Rate of HK, SAR

Publication Details

Pages:

43
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2011/348
Stock No:

1HKGEA2011001
ISBN:

9781463927875
ISSN:

1934-7685

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