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Author: International Monetary
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 28
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Book Description
People’s Republic of China—Hong Kong Special Administrative Region: Selected Issues
Author: International Monetary
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 28
Get Book Here
Book Description
People’s Republic of China—Hong Kong Special Administrative Region: Selected Issues
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1484338413
Category : Business & Economics
Languages : en
Pages : 59
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Book Description
This Selected Issues paper examines medium-term fiscal prospects and policy recommendations for Hong Kong Special Administrative Region (SAR). Hong Kong SAR’s fiscal framework has worked well over the last 20 years but challenges have emerged that will strain the fiscal position in the medium to long term. Consequently, while fiscal space is ample currently, it could become gradually constrained over time. The fiscal rule should be implemented flexibly and revenue mobilization needs to be considered down the road. On the expenditure side, containment will be hard, given rapid aging and still high inequality. The challenge will be to maintain investment and boost land supply while increasing social spending to guarantee that those who need support are effectively protected.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: International Monetary Fund. Asia and Pacific Dept
Publisher: International Monetary Fund
ISBN: 1513525476
Category : Business & Economics
Languages : en
Pages : 89
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Book Description
This 2019 Article IV Consultation with People’s Republic of China—Hong Kong Special Administrative Region (SAR) discusses that the economy is projected to start recovering next year, but the pace is expected to be gradual and both near- and medium-term risks have increased significantly, including from trade and technology tensions, ongoing social unrest, and structural challenges of insufficient housing supply and high income inequality. Hong Kong SAR is well placed to address both cyclical and structural challenges with its significant buffers thanks to its long history of prudent macroeconomic policies. Given that the fiscal framework permits deficits during economic downturns, government spending should be increased significantly in the areas of social safety nets, education/retraining, and infrastructure to cope with the cyclical downturn and address structural challenges of insufficient housing and high-income inequality. This should be complemented with measures to ensure fiscal sustainability and greater equity.
Author:
Publisher:
ISBN:
Category : China
Languages : en
Pages : 48
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Book Description
Author: Richard C. Bush
Publisher: Brookings Institution Press
ISBN: 0815728131
Category : Political Science
Languages : en
Pages : 255
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Book Description
A close-up look at the struggle for democracy in Hong Kong. Hong Kong in the Shadow of China is a reflection on the recent political turmoil in Hong Kong during which the Chinese government insisted on gradual movement toward electoral democracy and hundreds of thousands of protesters occupied major thoroughfares to push for full democracy now. Fueling this struggle is deep public resentment over growing inequality and how the political system—established by China and dominated by the local business community—reinforces the divide been those who have profited immensely and those who struggle for basics such as housing. Richard Bush, director of the Brookings Institution’s Center on East Asia Policy Studies, takes us inside the demonstrations and the demands of the demonstrators and then pulls back to critically explore what Hong Kong and China must do to ensure both economic competitiveness and good governance and the implications of Hong Kong developments for United States policy.
Author:
Publisher:
ISBN:
Category : China
Languages : en
Pages : 108
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Book Description
Author: International Monetary
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 43
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Book Description
People’s Republic of China—Macao Special Administrative Region: Selected Issues
Author: International Monetary Fund. Asia and Pacific Dept
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 80
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Book Description
After coping with another year of large COVID-related disruptions, economic activity is normalizing with the re-opening of the border, including with Mainland China. Strong fiscal policy support has helped the economy navigate through multiple shocks over the last few years, while strong institutional frameworks and financial buffers have allowed the financial system to remain resilient and continue to operate smoothly, including the Linked Exchange Rate System. The economy is facing macro-financial challenges amid rising interest rates, spillovers from strains in Mainland China’s real estate sector, adjustment in the local property market, and global economic slowdown.
Author: International Monetary
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 81
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Book Description
Hong Kong SAR’s economy is recovering strongly as ample policy space has allowed the enaction of swift and bold policy responses to address the unprecedented crisis emanating from multiple shocks, including notably the pandemic. But the recovery remains uneven, with private consumption lagging, owing, in part, to a zero- COVID tolerance approach. The financial sector has remained resilient supported by significant buffers, strong institutional frameworks, and a well-functioning Linked Exchange Rate System (LERS). Increasing financial linkages with Mainland China bring both opportunities and challenges for growth and financial stability.
