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

International Monetary Fund

No 2011/348, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; gross domestic product; growth moderation; goods; SAR; Hong Kong economy; Hong Kong SAR; convertibility undertaking; rate of HK; Land prices; Credit; Currencies; Exchange rate arrangements; Exchange rates; Global; Europe (search for similar items in EconPapers)
Pages: 43
Date: 2011-12-08
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