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Topic 2: Hong Kong’s relationship with the mainland and its role in Asia-Pacific Rim

SUB-THEME 1 　GROWTH AND DEVELOPMENT OF HONG KONG. Chapter 2 Development of Hong Kong into an International City. Topic 2: Hong Kong’s relationship with the mainland and its role in Asia-Pacific Rim. Year. Event. 1941. Japanese occupied Hong Kong. 1950-53. Korean War. 1963-64.

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Topic 2: Hong Kong’s relationship with the mainland and its role in Asia-Pacific Rim

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  1. SUB-THEME 1 　GROWTH AND DEVELOPMENT OF HONG KONG Chapter 2 Development of Hong Kong into an International City Topic 2: Hong Kong’s relationship with the mainland and its role in Asia-Pacific Rim

  2. Year • Event • 1941 • Japanese occupied Hong Kong • 1950-53 • Korean War • 1963-64 • Period of drought • 1967 • The Pacific Basin Economic Council formed • 1980 • The Pacific Economic Cooperation Council formed • 1986 • Economic and Trade Offices established in San Francisco • 1988 • Economic and Trade Offices established in Tokyo • 1989 • The Asia-Pacific Economic Cooperation formed • 1995 • Economic and Trade Offices established in Singapore and Sydney • 2003 • The Mainland Hong Kong Closer Economic Partnership Arrangement signed Hong Kong’s relationship with the mainland and its role in Asia-Pacific Rim Time Track

  3. Hong Kong’s relationship with the mainland and its role in Asia-Pacific Rim • Mutual beneficial relations Major trading partner • 　Before 1941: The mainland as the largest market and supplier • 　1941–1945: Sharp drop in trade during the Japanese occupation • 　1950s–1970s: Reducing exports to China • 　Since the 1980s: Increasing imports and exports

  4. Flow of capital between Hong Kong and the mainland Hong Kong’s relationship with the mainland and its role in Asia-Pacific Rim From the mainland to Hong Kong • The strong and reliable financial and legal infrastructures in Hong Kong have attracted a number of mainland corporations to invest in Hong Kong. From Hong Kong to the mainland • More and more Hong Kong industries moved to the mainland. • Besides investment, Hong Kong provides technology and management skills for the mainland.

  5. Hong Kong’s relationship with the mainland and its role in Asia-Pacific Rim Flow of capital between Hong Kong and the mainland Mutual support between Hong Kong and the mainland • Hong Kong obtained water from Dongjiang (東江). • Helped the mainland raise money. • Signed the Mainland / Hong Kong Closer Economic Partnership. • Arrangement (CEPA)《內地與香港關於建立更緊密經貿關係的安排》

  6. Hong Kong’s relationship with the mainland and its role in Asia-Pacific Rim • Active role in the promotion of trade Setting up of departments • Hong Kong Trade Development Council • Hong Kong Economic and Trade Offices Regional cooperation • The Pacific Basin Economic Council • The Pacific Economic Cooperation Council • The Asia-Pacific Economic Cooperation

  7. Hong Kong’s relationship with the mainland and its role in Asia-Pacific Rim Acting as a financial centre • Deposit-taking companies from over 40 nations • 72 Licensed banks • 16 Restricted licence banks • 49 Local representative offices • 92 Insurance companies from the Asia- Pacific Rim Acting as a management centre • Many firms from all over the world set up regional headquarters in Hong Kong, for example, Jardine, Matheson and Company.

  8. The End

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