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Hong Kong’s Gold: The Secrets Behind Hong Kong’s Top Export
Most people probably know that gold jewelry is popular among the Chinese. But did you know that it’s critical to our economy here in Hong Kong?
In this article, we take a closer look at gold’s importance to our economy, see why it’s among our city’s top exports, and other interesting facts about HK gold!
Does Hong Kong export gold?
Yes, Hong Kong exports gold. In fact, according to the Observatory of Economic Complexity, gold is Hong Kong’s top export with a total of $14.3 B.
Moreover, tin the year 2021, Hong Kong was the 9th largest exporter of gold in the world.
What is Hong Kong gold?
Hong Kong gold, or China gold, is 24k pure gold. This means the gold is vibrant and never tarnishes. Aside from other factors, this is one of the reasons why people like Hong Kong gold.
Where does Hong Kong ship gold the most?
The top countries that get most of Hong Kong’s gold are China ($3.5B), Switzerland ($2.52B), Thailand ($1.91B), Indonesia ($1.21B), and Singapore ($1.19B). This is according to the Observatory of Economic Complexity’s data analysis.
Is Hong Kong a good place to buy gold?
Since Hong Kong is considered a city that operates as a tax-free zone for importing and exporting gold and other valuable metals, it is arguably a good place to buy gold.
Moreover, there are also no other charges imposed on imports within Hong Kong. Because of this, Hong Kong is widely regarded as the most favorable tax environment for investors in precious metals worldwide.
What are Hong Kong’s top exports?
Aside from gold, Hong Kong’s other top exports are broadcasting equipment at $6.26B, integrated circuits at $8.59B, and gas turbines at $7.67B.
What is the importance of gold in the Hong Kong economy?
Aside from gold being Hong Kong’s top export, it is important to the city’s economy because it is not subject to credit or counterparty risks and is considered a reliable and trustworthy asset in any country even during an economic collapse.
