Under “one country, two systems”, the Basic Law confers on Hong Kong a unique status. Article 116 of the Basic Law stipulates that the Hong Kong Special Administrative Region is a separate customs territory and Article 151 provides that Hong Kong may, using the name “Hong Kong, China”, participate in international organisations such as the World Trade Organization (WTO) and the Asia-Pacific Economic Cooperation (APEC) as a separate member.
Relations between Hong Kong and our global trading partners are based on Hong Kong's unique status under “one country, two systems” conferred upon by the Basic Law. Hong Kong has been a staunch supporter of free trade. As a separate member of the WTO, our economic and trade status is on par with other members.
Hong Kong in Global Trade
Hong Kong plays an important part in global trade. According to the WTO, in 2019, Hong Kong is the world’s 8th largest trading entity in merchandise trade and 18th largest in commercial services.
Hong Kong’s major trading partners
In 2019, Hong Kong’s total merchandise trade with the world amounted to HK$8,404 billion. The Mainland of China, the Association of Southeast Asian Nations (ASEAN), the European Union, and the United States are among Hong Kong’s major trading partners.
Free Trade Agreements and Investment Agreements
Hong Kong has been actively seeking to expand its free trade agreement (FTA) network in order to secure favourable conditions for Hong Kong's goods and services to enter the Mainland and international markets.
So far, Hong Kong has signed eight FTAs with 20 economies, namely the Mainland of China, New Zealand, the Member States of the European Free Trade Association (EFTA), Chile, Macao Special Administrative Region, ASEAN, Georgia and Australia.
Hong Kong is also working to increase the number of investment agreements (IAs) signed with foreign economies in order to enhance two-way investment flows and boost our economy. Hong Kong's IAs give additional assurance to overseas investors that their investments in Hong Kong are protected, and enable Hong Kong investors to enjoy similar protection in respect of their investments overseas.
So far, Hong Kong has signed 22 IAs with 31 foreign economies.