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International Monetary Fund. Asia and Pacific Dept

December 4, mainly aimed at helping small and medium-sized enterprises. Statement by Zhongxia Jin, Executive Director for China, Georgina Lok, Advisor to Executive Director December 13, 2019 On behalf of the authorities of the Hong Kong Special Administrative Region (SAR), we would like to thank staff for the comprehensive and useful report. Our authorities appreciated the constructive dialogues during the mission visit, and broadly agree with staffs appraisal. The Hong Kong SAR economy is facing challenges on both external and domestic fronts. That said

International Monetary Fund

, the structural unemployment rate is estimated to have risen from 2 to 3 percent in the late 1980s to 3½ to 5 percent in recent years. 5 As the quality of human capital in the Hong Kong SAR economy did not keep pace with the need of economic restructuring, a skills mismatch resulted. This is evidenced on one hand by the much higher unemployment rate in the lower-skilled segments of the labor market and amongst workers that have lower educational attainment ( Figures IV.1 and IV.2 ), and on the other hand by an increase in wage disparity and a rise in the return to

International Monetary Fund

these factors together have led to significant changes in the structure of Hong Kong SAR’s economy. 2. The chapter examines the possible impact on Hong Kong SAR of policy developments in the Mainland (including macroeconomic tightening, trade and capital account liberalization). The chapter concludes that as integration has progressed, developments in various sectors of the Hong Kong SAR economy have become increasingly tied to developments on the Mainland, which implies that macroeconomic fluctuations in the Mainland could have significant spillover effects on

International Monetary Fund
This Selected Issues paper characterizes the rapid expansion of Hong Kong Special Administrative Region’s (Hong Kong SAR) economic ties with the Mainland over the last two decades. It examines the possible impact on Hong Kong SAR of policy developments in the Mainland. The paper concludes that as integration has progressed, developments in various sectors of the Hong Kong SAR economy have become increasingly tied to developments on the Mainland. This paper also analyzes the initial episode of strong-side pressures on the Hong Kong dollar and, in particular, the Hong Kong Monetary Authority response.
International Monetary Fund. Asia and Pacific Dept

Hong Kong SAR economy has been hit hard by both external and domestic shocks and fell into a technical recession in the third quarter.

International Monetary Fund. Asia and Pacific Dept

Hong Kong SAR economy has been hit hard by both external and domestic shocks and fell into a technical recession in the third quarter.