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Service Exports: The Next Engine of Growth For Hong Kong?

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Author Info

  • Frank Leung

    (Research Department, Hong Kong Monetary Authority)

  • Kevin Chow

    (Research Department, Hong Kong Monetary Authority)

  • Jessica Szeto

    (Research Department, Hong Kong Monetary Authority)

  • Dickson Tam

    (Research Department, Hong Kong Monetary Authority)

Abstract

Increasing economic integration with Mainland China has contributed to the rapid expansion of service exports in Hong Kong. Growing at the current pace of 10-20% per annum, service exports would be a key contributor to GDP in the coming years, thanks to vibrant expansion in offshore trade and strong growth in financial service exports and inbound tourism. Our projections show that, if the size of the Mainland economy doubles over the next decade, service exports could increase from the current 40% of GDP to 50% of GDP by 2016, probably the fastest growing component in GDP.

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File URL: http://www.info.gov.hk/hkma/eng/research/working/pdf/HKMAWP08_04_full.pdf
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Bibliographic Info

Paper provided by Hong Kong Monetary Authority in its series Working Papers with number 0804.

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Length: 40 pages
Date of creation: Apr 2008
Date of revision:
Handle: RePEc:hkg:wpaper:0804

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Related research

Keywords: Trade in services; Offshore trade; Hong Kong; Mainland China;

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References

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  1. Lillian Cheung & Kevin Chow & Jian Chang & Unias Li, 2006. "Outward Portfolio Investment From Mainland China: How Much Do We Expect And How Large a Share Can Hong Kong Expect to Capture?," Working Papers, Hong Kong Monetary Authority 0613, Hong Kong Monetary Authority.
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Cited by:
  1. Frank Leung & Gaofeng Han & Kevin Chow, 2009. "Financial Services Sector as a Driver of Productivity Growth in Hong Kong," Working Papers, Hong Kong Monetary Authority 0914, Hong Kong Monetary Authority.
  2. Johan Fourie & Dieter von Fintel, 2009. "World Rankings of Comparative Advantage in Service Exports," Working Papers 03/2009, Stellenbosch University, Department of Economics.

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