According to Henry Hui Wang, Deputy Minister of the Economic Department and Head of the Trade Department of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region, when introducing the characteristics and advantages of Hong Kong's economy, he said: 1. The service industry is the mainstay of Hong Kong's economy. As an international financial, trade and shipping center, Hong Kong has developed into a modern and dynamic service-oriented economy. In 2117, the tertiary industry accounted for 92.3% of GDP, with finance, insurance, real estate and commercial services accounting for the largest proportion, accounting for 29.1% of GDP, and wholesale, retail, import and export trade and catering and hotel industries accounting for 26.9% of GDP. The target of Hong Kong's service industry is not limited to local, but global. The ratio of total service exports to GDP is very high, accounting for 92.5 billion US dollars in 2118. Export services mainly include transportation services, business services, trade-related services and tourism services. 2. Hong Kong is an international financial and investment center. Hong Kong is the fourth largest financial center in the world (according to the latest ranking of global financial center index in March 2119), with a sound banking system and about 281 foreign banks and offices operating in Hong Kong. Of the 1,111 largest banks in the world, 69 have operations in Hong Kong. The capital adequacy ratio of Hong Kong's banking industry is over 1.5%, ranking among the top in the world. Hong Kong is one of the most open insurance markets in the world, with 91 foreign insurance companies investing and operating in Hong Kong, accounting for half of the total number of insurance companies in Hong Kong. Of the 21 largest insurance companies in the world, 13 operate in Hong Kong. The securities market is in the forefront of Asia. Hong Kong is an important fund management center in Asia, and more than 61% of the fund business comes from overseas investment. In 2118, foreign direct investment was US$ 61.7 billion, up 1.3% year-on-year. Hong Kong is the seventh largest stock market in the world and the third largest in Asia. By the end of 2118, there were 1,261 listed companies with a total market value of $1,323.7 billion. Hong Kong is also a major fund-raising center for mainland enterprises. In 2118, 465 mainland listed companies raised $36.9 billion. As of March 2119, * * * has 471 mainland enterprises listed in Hong Kong, accounting for 37% of the total number of listed companies in Hong Kong and 61% of the total market value. Hong Kong's banking risk management and capital adequacy enjoy a high reputation in the world, and it is the first banking center in the world to provide US$ 111 million settlement. Hong Kong dollar is the legal tender in Hong Kong. Since 1983, it has been linked to the US dollar and adopted a fixed exchange rate system (1 US dollars: 7.8 Hong Kong dollars). There is no foreign exchange control in Hong Kong. Hong Kong dollars are freely convertible and capital flows freely. 3. Hong Kong is an international trade, shipping and logistics center. Hong Kong is a major entrepot in Asia, with the value of entrepot goods accounting for 97% of its exports, and it undertakes major markets such as China Mainland, the United States, Europe and Japan. It has world-class transportation infrastructure such as shipping and air transportation, advanced information management system, world-leading service level, providing the best supply chain management and logistics services for the world, and realizing the best allocation of global resources on the basis of specialization, making Hong Kong one of the busiest container ports and international air cargo centers in the world, and also the most popular logistics center and supply chain base in Asia. At present, there are about 81 international ocean liner routes in Hong Kong, providing more than 411 container ship services to more than 511 destinations around the world every week. More than 71 airlines operate scheduled flights in Hong Kong, with more than 4,511 flights to and from about 141 destinations around the world every week, covering a population of 2 billion. Many multinational enterprises use this as a hub to provide value-added services such as goods storage, management, distribution, reprocessing and deployment. Hong Kong Kwai Chung Wharf, the world's largest indoor container handling center, has a handling capacity of 18 million TEUs. Since the opening of Hong Kong International Airport in 1998, the cargo volume has increased by 11% annually. At present, a large number of manufacturers and their international distributors located in the Pearl River Delta are gradually taking Hong Kong as the center for supply chain management, further enhancing the level of Hong Kong as an international logistics and supply chain management center. Hong Kong is a logistics center in the Asia-Pacific region. In 2118, the port container throughput exceeded 24.33 million TEUs, and the air cargo volume and passenger volume reached 3.63 million metric tons and 47.14 million passengers respectively. 4. Hong Kong is the operation center of multinational enterprises. Hong Kong is the hub of enterprise operation in the Asia-Pacific region. By the end of 2118, foreign enterprises had set up 1298 regional headquarters, 2584 regional offices and 2731 offices in Hong Kong (***6612). Hong Kong has become a major procurement center in the Asia-Pacific region. At present, more than 411 purchasing companies in the world have set up purchasing offices in Hong Kong, and the regional headquarters or offices of 1983 multinational companies in Hong Kong are also engaged in wholesale, retail and import and export trade, selling and purchasing to enterprises in the region. In addition, there are nearly 111,111 local trading companies in Hong Kong, with comprehensive and professional services, high efficiency, and flexibility and innovation. They have established a huge business network around the world and become an important platform for the mainland and neighboring countries in East Asia to connect with the world. 5. Hong Kong is an international convention and exhibition center. Since 1997, Hong Kong has been ranked first in the ranking of the best conference centers in the world. The rented area of exhibitions in Hong Kong is increasing year by year. In 2118, the available exhibition area reached 1.33 million square meters, and in 2119 it has increased to more than 1.5 million square meters. According to statistics, in 2118, more than 171 large-scale exhibitions and recreational activities were held in Hong Kong. The Hong Kong Trade Development Council has held nearly 31 international trade exhibitions in Hong Kong alone, among which 7 exhibitions are the largest in Asia, such as: the world's largest leather exhibition, the world's largest toy and game exhibition, the largest fashion exhibition in Asia, the largest watch exhibition in Asia, and the largest gift and furniture exhibition in Asia. Hong Kong has also become the place where mainland enterprises go abroad to participate in exhibitions the most. 6. Hong Kong is the freest and most open economy in the world. The trade volume of Hong Kong is equivalent to nearly 3.5 times of GDP, and it is an internationally famous center for business flow, logistics, capital flow, information flow and talent flow. In 2118, the World Economic Forum's Report on Global Trade Promotion ranked 118 economies in the "Trade Promotion Index", and Hong Kong ranked first in the world. Since 1995, it has been continuously rated as the freest economic system in the world by the American Heritage Foundation. Since 1996, it has been continuously rated as the freest region in the world economy by Cato College of the United States/Fechard Institution of Canada.