Page "Economy of Hong Kong" Paragraph 7

Since the 1997 handover Hong Kong's economic future became far more exposed to the challenges of economic globalisation competition directly from mainland China.

Shanghai claimed in particular to have a geographical advantage, and a municipal government that dreams of turning the city into China's main economic centre by as early as 2010.

The target is to allow Shanghai to catch up to New York by 2040-2050, with the eventual projection that China will be Asia's most prosperous economy by 2040.

Hong Kong, on the other hand, continues to have a more positive and realistic approach.

It will sustainably be the international financial centre in China.

Until then, Hong Kong is expected to have higher overall economic figures yearly.

Hong Kong's principal trading partners remain to be China, United States, Japan, Taiwan, Germany, Singapore, and South Korea.