Hong Kong: Facts & Stats

ECONOMY

Industry:

The largest sector of industry is manufacturing. It is a major contributor to GDP and the workforce. There were a lot of manufacturing establishments in Hong Kong known as "flatted factories," these establishments are mostly very small and located on 1 or 2 floors of a high-rise building. The average number of employees per establishment is 10.

The electronics industry, including telecommunications, is the second largest export earner, but it is small and underdeveloped. Its products are generally of lower quality compared to other Asian products such as those of Singapore and Taiwan.

The plastics industry has been shrinking in Hong Kong, with most of its manufacturing establishments being moved to China. Nevertheless, Hong Kong is one of world's largest toy exporters.

The utility industry is a vital sector in Hong Kong, which lacks freshwater and fossil energy resources. Several companies ensure uninterrupted supplies of water and energy (electricity and fossil fuel) for private and commercial purposes through imports of water and both limited local production and large imports of energy. Despite its importance, the utility industry is small and employs an insignificant portion of the work-force, but its contribution to GDP is significant.

Agriculture:

Hong Kong has a small agricultural sector, including fisheries, with a very limited productivity and insignificant role in the economy. The available arable land is extremely limited in Hong Kong, where land is generally scarce. Less than 7 percent of Hong Kong's land is used for agricultural activities, i.e., farming and fish farming.

The scarcity of land has determined the nature of agricultural activities. Instead of land-intensive and low-priced rice and grain production, 2 lucrative activities (vegetable farming and flower growing) have become the dominant activities.

Fishing is a very small source of employment, but its products meet a significant portion of demands for seafood.

Research & Development:

Hong Kong Applied Science and Technology Research Institute Co Ltd (ASTRI) was founded in 2001 in Hong Kong by the Government of the Hong Kong Special Administrative Region to promote technological advances for Hong Kong through applied research. Its missions are to perform high quality research and development, transfer advanced technologies to industries, develop technical human resources and act as a focal point that brings together industry and university research and development assets.

As Hong Kong's applied technology research centre focuses on providing world-class innovative technologies, ASTRI's research and development activities focus on four closely interrelated technological domains: IC designs; communications technologies; enterprise and consumer electronics; and material and packaging technologies. Since inception, ASTRI has built up a team of top researchers who have conducted a number of world-class research projects.

In the next phase of ASTRI's development, ASTRI will build a totally customer-focused research and development organization that not only conducts world-class research, but also excels in bringing about real industrial impact. The company's objectives will establish ASTRI as one of the most influential research and development forces in the entire Greater China region, and a truly strategic asset that would enable Hong Kong to capture additional value from advanced technologies.

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