Economy, Money and Currency

Economy

Hong Kong is renowned for its low taxation and free trade. For decades the government has adopted the policy of “positive non-interventionism” to allow economic development to be driven by market forces under almost no import or export controls. Key industries in Hong Kong include financial services, tourism, trading and logistics, as well as professional services and other producer services.

Information about Hong Kong’s taxation for individuals can be found at http://www.ird.gov.hk/eng/tax/ind.htm.

Money and Currency

The currency is Hong Kong dollar (HK$), which is managed under a linked exchange rate system.  The prevailing exchange rate, adopted since May 2005, is US$1 to HK$7.75 – 7.85. Besides cash, payment in Hong Kong commonly takes place through credit cards and electronic payment systems like Octopus and EPS.