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[국제물품운송 및 물류]Development and Transformation of the Free Port of Hong Kong
Jianfa Shen,Yue-man Yeung 한국국제상학회 2004 國際商學 Vol.19 No.1
Hong Kong's territory consists of mainly hilly areas with almost no natural resources. Its major assets are a deep-water harbour and its resourceful population. Hong Kong has been developed as a free port from the very beginning. Currently, Hong Kong is a Special Administrative Region of China. One country, two systems has been practised in Hong Kong since July 1997. The success of Hong Kong as a global city in Asia has much to do with its status of free port and its role in international trade and re-export in the cross-border regional production system. This paper will first examine Hong Kong's free port policy and the government non-intervention approach to the economy. Generally, Hong Kong follows the economic policy of free enterprises and free trade. There are no import tariffs and there is only limited licensing control of a few commodities. In the process of development, Hong Kong has gone through several development stages due to changes in the external and international environment. This paper will examine Hong Kong's development and transformation in the recent decades, its industrialization, de-industrialization and current transformation associated with China's open door policy in 1978, the Asian financial crisis, and the CEPA (closer economic partnership arrangement) between Hong Kong and mainland China.