Hong Kong is a leading financial center in the world, with a solid legal system, a dynamic economy and a developed financial market. According to many reports, Hong Kong is ranked high in global financial center indexes, demonstrating its strong appeal to global investors and businesses.
Overview of Hong Kong finance:
Leading financial center:
Hong Kong is famous as an international financial center, with a stable banking system, a large stock market and diverse financial services, according to the Vietnam Law Newspaper.
Developed economy:
Hong Kong’s nominal GDP is estimated at 373 billion USD, and its per capita income is in the top 20 in the world.
Vibrant financial market:
Hong Kong’s stock market has a large capitalization, many listed companies and active trading, according to VnExpress.
Abundant foreign exchange reserves:
Hong Kong has large foreign exchange reserves and a well-functioning linked exchange rate system.
Strict regulatory requirements:
Companies operating in Hong Kong must comply with strict accounting and financial reporting regulations, according to Global Links Asia.
Financial reporting standards:
Hong Kong adopts Hong Kong Financial Reporting Standards (HKFRS) based on International Financial Reporting Standards (IFRS) to ensure transparency and consistency.