International organization participation: APEC, AsDB, BIS, CCC,
ESCAP (associate), ICC, ICFTU, IMO (associate), Interpol
(subbureau), IOC, ISO (correspondent), WCL, WMO, WToO (associate),
WTrO
Diplomatic representation in the US: none (special administrative region of China)
Diplomatic representation from the US: chief of mission: Consul
General Michael KLOSSON
consulate(s) general: 26 Garden Road, Hong Kong
mailing address: PSC 464, Box 30, FPO AP 96522-0002
telephone: [852] 2523-9011
FAX: [852] 2845-1598
Flag description: red with a stylized, white, five-petal bauhinia flower in the center
Hong Kong Economy
Economy - overview: Hong Kong has a bustling free market economy highly dependent on international trade. Natural resources are limited, and food and raw materials must be imported. Indeed, imports and exports, including reexports, each exceed GDP in dollar value. Even before Hong Kong reverted to Chinese administration on 1 July 1997 it had extensive trade and investment ties with China. Per capita GDP compares with the level in the four big countries of Western Europe. GDP growth averaged a strong 5% in 1989-97. The widespread Asian economic difficulties in 1998 hit this trade-dependent economy quite hard, with GDP down 5%. The economy is undergoing a rapid recovery, with growth of 10% in 2000 to be followed by projected growth of 5% in 2001.