ral Chamber of
Commerce; Chinese General Chamber of Commerce (pro-China); Federation
of Hong Kong Industries; Chinese Manufacturers' Association of Hong
Kong; Hong Kong Professional Teachers' Union, CHEUNG Man-kwong,
president; Hong Kong Alliance in Support of the Patriotic Democratic
Movement in China, Szeto WAH, chairman
note:
in April 1994, the United Democrats of Hong Kong and Meeting Point
merged to form the "Democratic Party;" the merger becomes effective in
October 1994
Member of:
COCOM (cooperating), APEC, AsDB, CCC, ESCAP (associate), GATT, ICFTU,
IMO (associate), INTERPOL (subbureau), IOC, ISO (correspondent), WCL,
WMO
Diplomatic representation in US:
none (dependent territory of the UK)
US diplomatic representation:
chief of mission:
Consul General Richard MUELLER
consulate general:
26 Garden Road, Hong Kong
mailing address:
PSC 464, Box 30, Hong Kong, or FPO AP 96522-0002
telephone:
[852] 523-9011
FAX:
[852] 845-1598
Flag:
blue with the flag of the UK in the upper hoist-side quadrant with the
Hong Kong coat of arms on a white disk centered on the outer half of
the flag; the coat of arms contains a shield (bearing two junks below
a crown) held by a lion (representing the UK) and a dragon
(representing China) with another lion above the shield and a banner
bearing the words HONG KONG below the shield

@Hong Kong, Economy

Overview:
Hong Kong has a bustling free market economy with few tariffs or
nontariff barriers. Natural resources are limited, and food and raw
materials must be imported. Manufacturing accounts for about 17% of
GDP. Goods and services exports account for about 50% of GDP. Real GDP
growth averaged a remarkable 8% in 1987-88, slowed to 3.0% in 1989-90,
and picked up to 4.2% in 1991, 5.0% in 1992, and 5.2% in 1993.
Unemployment, which has been declining since the mid-1980s, is now
about 2%. A shortage of labor continues to put upward pressure on
prices and the cost of living. Short-term prospects remain bright so
long as major trading partners continue to be reasonably prosperous.
National product:
GDP - purchasing power equivalent - $119 billion (1993 est.)
National product real growth rate:
5.2% (1993)
National product per capita:
$21,500 (1993 est.)
Inflation rate (consumer prices):
9.5% (1993)
Unemployment rate:
2.3% (1993 est.)
Budget:
revenues:
$19.2 billion
expenditures:
$19.7 billion,