Framing Yachting, PR & Digital Mgmt, Coastal RealEstate, Asia and Destinations.
Report: 12 (18. Mar. 2019 - 31. Mar. 2019)
Article Update of the Report 12, 2019!
Shenzhen surpassed Hong Kong in 2018
Shenzhen’s economy surpassed Hong Kong’s for the first time in 2018. Hong Hao, managing director and head of research at Bocom International, said the different economic structures of the two cities would decide that Shenzhen’s economy will remain ahead of Hong Kong’s in the coming years.
“Hong Kong is heavily reliant on traditional industries such as finance and real estate, which covers about 70 per cent of the economy. Shenzhen’s economy is mainly supported by manufacturing and technology, which contributes about 70 per cent,” Hong said.
He added that Hong Kong’s model has its limitations in the sustainability of growth and high housing prices, while Shenzhen’s tech-driven model can maintain its growth faster and for a longer. More at SCMP. The Hong Kong government will set aside more than HK$50 billion to boost innovation and technology development.