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Population
2022: The population is 7.41 million people, of which 3.8 million are able-bodied
As of 2022, the population of Hong Kong is 7.41 million people, of which less than 3.8 million are able-bodied.
Migration from Hong Kong and to Hong Kong
2019: 4.2 thousand millionaires left Hong Kong
Richest citizens
2024: Hong Kong millionaire growth forecast
Hong Kong is attracting wealthy Chinese by rolling out a "red carpet" for the wealthy, while tougher money laundering rules adopted in rival Singapore are alienating some customers.
2023: More than $3 million - the threshold for entering the number of the 1% richest people in the country
Long-livers
Son
2018: Average sleep duration 6 hours 56 minutes
Economy
GDP
2022: GDP size forecast - $0.37 trillion
2021: GDP size - $0.37 trillion
2020: Record 6.1% fall in GDP
2019: First 1.2% reduction in GDP in 10 years
At the end of 2019, Hong Kong as a special administrative region of China for the first time in ten years faced negative GDP growth: the reduction was 1.2%. The local economy entered the stage of recession in the fall of 2019, which was the result of prolonged mass anti-government protests, as well as the Sino-American trade war.
Financial system
Non-financial debt
2022: Aggregate non-financial debt
Banking system
2019: $1.9 trillion in accounts of foreign individuals
Unemployment
2020: Unemployment rate - 5.2%
Incomes, taxes and debts of the population
2024
Tax increase to 16% for persons with income more than $640,000 per year
In February 2024, Hong Kong announced it was raising a tax on high-income earners for the first time in 20 years. The city is looking for ways to plug a hole in its budget.
Annual income over $640,000 will be taxed at 16%. About 12,000 people, or about 0.6% of taxpayers, will be affected by the move.
Comparison of salaries in Singapore and Hong Kong
2023
High household debt: 92% of GDP
Minimum wage - $959
Tourism
2019: How dependent Hong Kong is on tourism:% of industry in GDP
2018
Cryptocurrencies in Hong Kong
2020: Equating cryptocurrency with precious metals and jewelry
In early March 2020, it became known that Hong Kong decided to equate cryptocurrencies with precious metals and jewelry. Thus, the special administrative region of the PRC tightens the regulation of the cryptocurrency market. Read more here.
Trade
2022: Hong Kong electronics suppliers start accepting payments in rubles
Nikita Kazarinov, general director of Shuttle Logistics, said that electronics suppliers from Hong Kong recently began accepting payments from Russian companies in rubles. This became known on July 15, 2022.
He clarified that this simplifies the purchase of products for parallel imports, which mainly go through third countries, since experts recommend that all settlements on it be carried out in the national currencies of the buyer or seller. This is guaranteed to avoid problems with blocking payments in dollars or euros.
The Moscow Times clarified that with small customers, Hong Kong electronics suppliers could previously conduct settlements in rubles. Now we are talking about large orders from large companies.
 | For several years we have been purchasing iPhone, iPad and other Apple products to order through three individual entrepreneurs - and this was within 20,000 units per year - but now we see that competition from other Russian buyers has grown sharply - only our supplier in June-July shipped about 100,000 units to other individual entrepreneurs from Russia. We know that large Russian retailers are purchasing through them, "said an employee of the importing company. |  |
What should Hong Kong suppliers do with rubles? The source says that there are no problems with this, for example, they can be sold to companies in mainland China purchasing raw materials or products from Russia.
Maxim Kuznetsov, vice president of the Russian-Asian Union of Industrialists and Entrepreneurs, explained that Hong Kong is a priority place for purchasing, for example, smartphones for parallel imports, since it is a free customs port that does not have customs duties. In addition, through Hong Kong companies, you can import goods into a third country without physically importing them into this city. It was from there that many "gray" iPhones arrived in Russia before the imposition of sanctions[1].
2020: US names Hong Kong imports as "Made in China"
Under a new government document, the US will be obliged to label imports from Hong Kong as "Made in China," as trade tensions escalate between the two countries in 2020.
The notice, published in the US Federal Register, states that goods made in Hong Kong and imported into the US must have a label indicating that their manufacturer is. China Labeling should begin after September 25, 2020, the document says.
The Hong Kong government has protested this statement, it believes that the "unique role" of Hong Kong as a member of the World Trade Organization is ignored. The city government will discuss this decision with the United States through its office in Washington, and measures against the US decision are not excluded.
2019: Computer Device Exports
Real estate
2023: 4.4% of housing available for rent
2022: Residential property prices fall for the first time since 2008
Hong Kong house prices fell 15.6% in 2022, marking the first annual decline since 2008 - Reuters
2021: Residential property construction growth
R&D
2020: R&D spending - $3bn
Businessmen
2022: Boom in company registrations with the word "Russia" in the title
The number of companies registered in Hong Kong with the word "Russia" in English or Chinese has almost tripled between the end of February and October 2022, according to the Hong Kong news portal HK01, citing a study by Liber Research Community (LRC).
From February 24 to October 10, 2022, 35 companies were registered with this kind of name, when during the same period of 2021 there were only 13 of them.
2020: 6th in the world in the number of billionaires - 66
Health care
2018: E-cigarette ban
In October 2018, Hong Kong authorities completely banned e-cigarettes following 27 other countries that imposed a similar ban on the recommendation of the World Health Organization (WHO). Sales and use restrictions apply to all electronic devices that use tobacco, including those that allow smokeless smoking. Read more here.
History
2024: Hong Kong will now be jailed for feeding pigeons
At the end of July 2024, it became known that Hong Kong will now be imprisoned for feeding pigeons. The maximum penalty is a year in prison. A fine of up to 100 thousand Hong Kong dollars ($12.8 thousand) is also provided.
The new measures are aimed at further curbing wildlife feeding as well as maintaining ecological balance, the Hong Kong government's Department of Agriculture, Fisheries and Conservation said. The agency launched a special campaign to raise awareness of the population and tourists about the consequences of feeding wild animals and street pigeons, as well as new penalties.
2022: 3rd place in the number of skyscrapers above 200 meters: 94
2020:4 skyscrapers built in Hong Kong in a year
1993: Demolition of Kowloon District, run by triads
From the 1950s to the 1970s, the fortress city of Kowloon (one of the districts of Hong Kong) was controlled by triads, and prostitution, gambling and drug trafficking flourished in it.
In January 1987, the Hong Kong government announced plans to demolish the walled city.
Demolition began in March 1993 and ended in April 1994, in December 1995 the park of the same name was opened on this site.
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1895
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