Answer: Hello, the most prosperous place in Hong Kong is Central, located in the Central and Western District of Hong Kong. It is the political and commercial center of Hong Kong. Many banks, multinational financial institutions and foreign consulates are located in Central. Hong Kong's government headquarters, the Legislative Council Building, the Court of Final Appeal, and the former Government House (now Government House) are also located in Central.
1. Hong Kong’s economic prosperity
In the early 1970s, Hong Kong implemented the policy of economic diversification, and Hong Kong’s finance, real estate, trade, and tourism developed rapidly, especially since the 1980s. , Mainland factors have become the most important external factors driving Hong Kong's economic development. Most of Hong Kong's manufacturing industries have been transferred to the Mainland, and various service industries have developed comprehensively and rapidly, realizing the second economic transformation from manufacturing to service industries.
In 2019, the GDP calculated at market prices was HK$2.9 trillion, an actual decrease of 1.2% year-on-year, and the per capita GDP was HK$382,000. The basic inflation rate is 2.9%, and prices are growing at a moderate pace. At the end of 2019, the working population was 3.966 million, and the unemployment rate was 3.3%. Hong Kong's economy is dominated by the service industry, and the proportion of the service industry in the GDP has remained above 90% for a long time.
The Hong Kong SAR government’s finances are sound. At the end of 2019, the total fiscal reserves of the SAR were HK$1,133.1 billion and the foreign exchange reserve assets were US$441.3 billion.
Hong Kong is a capitalist economic system that adheres to a free market. The focus of its economy lies in the laissez-faire policy implemented by the government. The Free Economic System Report published by the Heritage Foundation in the United States since 1995 and the Fraser Institute in Canada since 1996 has consistently ranked Hong Kong first in the world.
Hong Kong implements a simple tax system with low tax rates. Personal salaries tax is levied in different proportions after it exceeds the exemption limit, with a maximum of no more than 17%. The corporate profits tax rate is 16.5% without considering special deductions.
Hong Kong is an international financial, shipping and trade center with a developed economy. In the 26th Global Financial Center Index published in September 2019, Hong Kong ranked third, second only to New York and London. In October 2012, the World Economic Forum released the "2012 Financial Development Report", and Hong Kong topped the list for two consecutive years. As of 2019, Hong Kong has been rated as the freest economy in the world for 25 consecutive years, ranking first in the economic freedom index.