People’s Republic of China—Hong Kong Special Administrative Region: Selected Issues

Author: International Monetary Fund

Volume/Issue: Volume 2007 Issue 004

Publication date: January 2007

ISBN: 9781451816952

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Finance , Public Finance , Taxation - General , ISCR , CR , revenue , revenue volatility , Hong Kong SAR , market , price competitiveness , Mainland bank , SAR resident , business cost , renminbi deposit , Competition , Insurance , Fiscal risks , Financial integration , Global , Asia and Pacific

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Summary

This Selected Issues paper reviews medium-term fiscal challenges for Hong Kong Special Administrative Region (Hong Kong SAR). It focuses on key considerations that need to be evaluated when formulating a medium-term reserves policy in the face of fiscal challenges, such as accommodating future spending pressures and revenue fluctuations. The broad conclusion of the paper is that fiscal reserves will likely remain an important feature of future fiscal policy. The paper also discusses more general aspects of Hong Kong SAR’s economy’s competitiveness, and the outlook for Hong Kong SAR’s financial center.