Hong Kong, China
Hong Kong, officially the Hong Kong Special Administrative Region of the People's Republic of China, is an autonomous territory on the eastern side of the Pearl River estuary in East Asia, south of the mainland Chinese province of Guangdong, and east of the former Portuguese colony and fellow special administrative region of Macau. With around 7.3 million Hong Kongers of various nationalities in a territory of 1,104 km2, Hong Kong is the fourth-most densely populated region in the world.
Hong Kong has a capitalist mixed service economy, characterised by low taxation, minimal government market intervention, and an established international financial market. It is the world's 8th largest trading economy, with the mainland of China as its most significant trading partner. Hong Kong is also a major service economy, with particularly strong links to mainland China and the rest of the Asia-Pacific region.
Hong Kong is the world's seventh largest trading entity in both exports and imports, with the total value of traded goods exceeding its gross domestic product. It is also the world's largest transshipment centre; much of its exports consist of re-exports, products manufactured outside of the territory, especially in mainland China, and distributed via Hong Kong.
While the territory boasted one of the largest manufacturing economies in Asia during the latter half of the colonial era as the city industrialised, Hong Kong's economy is now dominated by the services sector. Services alone constitute 92.7 per cent of economic output, with the public sector accounting for about 10 per cent.
Tourism forms a major part of the territorial economy, accounting for 5% of GDP; 26.6 million visitors contributed US$32.9 billion in international tourism receipts in 2016, making Hong Kong the 14th most popular destination for international tourists.
Hong Kong is also one of the most significant global financial centres, holding the highest Financial Development Index score and consistently ranking as the most competitive and freest economic area in the world