Hong Kong's outlook remains upbeat, despite politics
Article Abstract:
Hong Kong continues to yield a positive economic perspective, despite the scheduled return of the colony to China on July 1, 1997. Strong performance in the colony's housing industry remains a contributing of the economy. Other segments of the economy also yield strong consumer spending, with car sales posting a 22% increase in the second half of 1996. However, uncertainties on the fate of China in a post-Deng Xiaoping period, coupled with China's plan of revamping the colony's civil-rights law, have prompted a decline in the prices of Hong Kong shares.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
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Ambivalence abounds as July 1 nears
Article Abstract:
Hong Kong residents are uncertain what lies ahead after July 1, 1997, when China starts running the territory. They see the return to China as shedding the last vestiges of Western colonialism, but fear that Beijing may trample on human rights. Many citizens have applied for passport to the US, Canada and Australia, but plan to stay put, only fleeing when the situation really gets worse. Investors also welcome the greater access to the huge Chinese market, but wonder about the political fallout.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
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Hong Kong still signals strong hopes for the economy
Article Abstract:
Hong Kong's economic indicators still report a positive outlook despite the uncertainty of its impending reunification with China. Hong Kong's economic fundamentals are still consistent, but the rising property and stock markets are dropping. The property market posted record sales in January and February 1997 but sales dropped a little in March. The Hang Seng Index decreased by 4.6% over the 1996 closure, after a 2.3% drop in February 1997.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
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