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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. Asia and Pacific Dept
Publisher: International Monetary Fund
ISBN: 1484314727
Category : Business & Economics
Languages : en
Pages : 77
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Book Description
This Selected Issues paper examines the drivers and prospects for high levels of savings in China. China has one of the highest levels of national savings in the world, which is at the heart of its external and internal imbalances. High and rising household savings have mainly resulted from demographic changes as a result of the one-child policy and the breakdown of the social safety net during the transition from a planned to a market economy. Demographic changes will put downward pressure on national savings. Policy efforts to strengthen the social safety net and reduce income inequality are also needed to reduce savings further and faster and to boost consumption.
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: International Monetary Fund. Asia and Pacific Dept
Publisher: International Monetary Fund
ISBN: 1484395778
Category : Business & Economics
Languages : en
Pages : 32
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Book Description
This Selected Issues paper discusses income inequality in Hong Kong Special Administrative Region (SAR). Income inequality in Hong Kong SAR remains high, despite declining recently. Redistributive policies implemented by the authorities have helped to lower income inequality. However, inequality is likely to rise in the medium-term due to aging and thus more needs to be done. A package of policies could lower the Gini index by 3–4 points by 2050 including: more progressive salaries tax; higher reliance on recurrent property taxes; and increased public expenditure on social welfare, health, housing, education and childcare. According to recent evidence in the literature, these policies could also boost growth by 0.2–0.5 percentage points per year. Public spending on social welfare could continue to be raised to boost redistribution and increase access of poorer households. Spending on education and childcare should be raised to help lower the market income inequality directly. The commissioned study aiming to determine the demand and supply for childcare services and map out the long-term service development programs, as well as the initiatives mentioned in the 2018 Policy Address, should help in this regard.
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.
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:
Publisher:
ISBN:
Category : China
Languages : en
Pages : 48
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Book Description
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451807791
Category : Business & Economics
Languages : en
Pages : 78
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Book Description
This Selected Issues paper analyzes the long-term fiscal policy in Hong Kong Special Administrative Region (SAR) and the anticipated structural changes in the economy. The paper examines the factors that contributed to the stability of the banking system in Hong Kong SAR by assessing the roles played by banks, equity markets, and debt markets. The study describes a procedure to extract the probability distribution of future exchange rate movements based on currency option data. The paper also provides a statistical appendix report of the country.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451816898
Category : Business & Economics
Languages : en
Pages : 102
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Book Description
This study estimates quantitative, industry-level measures of the intensity of competition and also discusses various methodologies and data used for measuring competition. The following data are also included in the study: gross fixed capital formation, selected price indicators, labor force, employment, and unemployment, property market development, public expenditure by function, monetary indicators, balance sheet of all authorized institutions, equity price developments, exchange fund balance sheet, wages, labor productivity, public expenditure by function, revenue, government expenditure under the general revenue account, and so on.
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
