Changes in Hong Kong's Economic Structure by the New Crown Epidemic and Its Development Trend

Chiu Ting Yuk

International Business Research, 2023, vol. 16, issue 3, 52

Abstract: This article provides an in-depth analysis of Hong Kong's economic transformation in this COVID-19, using online research and the actual situation in Hong Kong, combined with the characteristics of Hong Kong itself. The four pillar industries of Hong Kong are financial services, tourism, trade and logistics, professional services, and other industrial support services, while in the past the major industrial sectors, except for finance, have encountered bottlenecks in the development of major industries, which have less impact on the development of Hong Kong. The inherent contradictions of our capitalism are becoming increasingly prominent, and our development approach is in urgent need of transformation and upgrading. The violent impact of infectious diseases has caused dramatic changes in the economic structure of Hong Kong. To promote the sustainable development of our economy, it is necessary to improve the rigidity of the industrial structure, reduce the gap between the rich and the poor, and develop an innovative economy.

Date: 2023
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