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This paper investigates the economic development within the Guangdong-Hong Kong-Macao Greater Bay Area from two perspectives--spatial pattern and influencing factors--to promote coordinated development across the area. This paper employs Moran's I test and local Getis-Ord G statistic from spatial statistics. Furthermore, it constructs a hierarchical spatial econometric model to facilitate empirical investigation. It is found that the overall economic development of the Guangdong-Hong Kong-Macao Greater Bay Area exhibits a "mountain-shaped" spatial pattern of the high-level homogeneous regions with "high-high correlation" and the low-level homogeneous regions with "low-low correlation." The internal difference in economic density is moderate, with an obvious trend of decrease year by year. Economic density shows a significant spatial positive correlation, with the expansion of the scope of areas exhibiting "high-high correlation." The differences in economic density between hotspots and sub-hotspots have decreased, but the economic density of cold spots has failed to keep up with the development of other regions. The difference in factor input density among the influencing factors explains most of the differences in economic density among different regions. The results from the R&D capital investment coefficient indicate that in recent years, the effect of investments in urban scientific and technological innovation factors has been more extensive and uniform among the regions under its jurisdiction, but the spatial spillover effect of innovation factors at both layers is not significantly positive. Apart from the city's location within the Greater Bay Area, the relative location of the jurisdictions within the city equally influences the economic development configuration of the Greater Bay Area. Although economic density in regions adjacent to cities outside the Greater Bay Area is notably lower than in other regions, their growth rate and production efficiency remain on par with other regions. T-test and model results underscore the rapid development of the areas encircling the bay. The coefficient of location dummy variables in areas adjacent to cities in the Greater Bay Area varies among cities. At a particular factor input density, some cities have higher output efficiency in areas contiguous to cities in the Greater Bay Area. This study uniquely adopts low-level city jurisdictions and high-level cities to shape a two-tiered hierarchical dataset with nested geographic units. This innovative approach fully leverages insights from distinct layers, delving into spatial interdependence and interplay across layers. This paper aims to explore the spatial pattern and influencing factors steering economic development in the Guangdong-Hong Kong-Macao Greater Bay Area. In doing so, it aims to identify problems and present pertinent policy recommendations. [ABSTRACT FROM AUTHOR]

In the face of an increasingly complex and unstable external development environment, enhancing economic resilience has become a key task in the construction of the Guangdong-Hong Kong-Macao Greater Bay Area. This paper analyzes the changes in the economic resilience of the Guangdong-Hong Kong- Macao Greater Bay Area and its constituent cities after the 2008 global financial crisis by virtue of the regional economic resilience assessment method proposed by Martin et al. It constructs an economic connection network for the Guangdong-Hong Kong- Macao Greater Bay Area using the data from corporate headquarters and branches of A-share listed companies to analyze its impact on the economic resilience of the Area. The study reveals the three following conclusions. Firstly, the economic resilience of the Guangdong-Hong Kong-Macao Greater Bay Area generally outperforms the national average level, seeing a rapid boost over the recent years and exceeding the level witnessed during the 2008 financial crisis. However, there are marked disparities in the economic resilience of various cities within the Greater Bay Area, with Shenzhen, Guangzhou, and Dongguan emerging as the most robust in this regard. Secondly, the economic connection network has a positive impact on the economic resilience of the cities in the Guangdong-Hong Kong-Macao Greater Bay Area. Specifically, there is a positive correlation between a city's economic resilience and its centrality in the economic connection network. Such centrality exerts a positive spillover effect on the economic resilience of surrounding cities. Thirdly, from the perspective of industry-specific networks, circulation and service industry networks are more conducive to improving the economic resilience of a city. Given the significant role of the economic connection network in shaping regional and urban economic resilience, it is imperative for the Guangdong-Hong Kong-Macao Greater Bay Area to prioritize ensuring economic development security and enhancing economic resilience, promote the development of the economic connection network, and enhance the network centrality of its constituent cities. This can improve the economic resilience of itself and its constituent cities in an effective manner. [ABSTRACT FROM AUTHOR]

This paper reassesses the nexus between bank-based financial development and economic growth in Hong Kong during the period 1990 - 2014. That is, it tests whether Hong Kong follows a supply-leading or a demand-following hypothesis. Empirically, economists have generally disagreed on the nexus between bank-based financial development and economic growth. Hong Kong is a typical economy which has experienced both bank-based financial expansion and economic expansion in the last three decades. It therefore serves as a quintessence for testing this overarching debate. Using the Toda-Yamamoto test for causality and two indicators of bank-based financial development - in order to report robust results - the paper finds Hong Kong to follow the supply-leading hypothesis. This implies that the banking sector is vital in driving economic growth in Hong Kong during the study period. Policymakers in this economy will only enhance economic growth further by targeting and ensuring efficient performance of bank-based financial institutions. [ABSTRACT FROM AUTHOR]

Synergistic development is the only way which must be passed and a key point to achieve high-quality economic development. This paper regards regional synergetic development as a composite system, builds up the evaluation indicator system, and calculates the level of economic synergetic development of Guangdong-Hong Kong-Macao Greater Bay Area Urban Agglomeration, by using the collaborative degree model of composite system. The results show that each subsystem of the composite system has a high degree of order from 2007 to 2019, but compared with Beijing-Tianjin-Hebei urban agglomeration and Yangtze River Delta urban agglomeration, the level of economic collaborative development of Guangdong-Hong Kong-Macao Greater Bay Area urban agglomeration in 2008–2019 is relatively low and has large spatial differences. The main reason is that under the background of "one country, two systems" policy, the institutional differences between Guangdong, Hong Kong, and Macao have not been effectively linked up and synergetic, Greater Bay Area urban agglomeration has not yet formed an organic whole, and the synergy effect of mutual support and promotion is relatively weak. Based on this, we should seize the great historical opportunity of the construction of Guangdong-Hong Kong-Macao Greater Bay Area, accelerate the construction of the mechanism for the synergetic economic development of the three areas, accelerate the establishment of an integrated market, build a reasonable division of labor system and collaborative innovation system, and jointly promote the synergetic economic development of Greater Bay Area. [ABSTRACT FROM AUTHOR]

As the rapid development of offshore trade has become an important pillar of Hong Kong's economy, analyzing the economic growth effect of Hong Kong's offshore trade is of great significance. This paper analyzes the impact of offshore trade on Hong Kong's economic growth during the period of 2002 to 2017 on the basis of a review of the research on the development of offshore trade in Hong Kong and the study of the economic growth effects of trade in the perspective of its particularity. Based on the theoretical analysis, this paper then empirically examines the economic growth effect of Hong Kong's offshore trade and concludes that offshore trade has promoted Hong Kong's economic growth, thus becoming an important factor of growth. Finally, it proposes policy recommendations for developing offshore trade to promote Hong Kong's economic growth: attract multinational corporations to set up headquarters or offices in Hong Kong, strengthen Hong Kong's economic ties with mainland China, and accelerate the development of RMB offshore financial markets in Hong Kong. From a global perspective, Hong Kong, as a bridge linking the regional and global economies has not only promoted the optimal allocation of factors of production and resources in the region, but also enhanced the facilitation of foreign trade and international competitiveness. [ABSTRACT FROM AUTHOR]

The economic effects of tourism industry during periods of crisis, such as the COVID-19 pandemic, have received significant attention in recent years. The future is likely to pose a range of new challenges and opportunities to sustainable tourism. This paper employs the Markov-switching vector autoregressions (MSVAR) model to investigate the sustainability of tourism's economic effects in Hong Kong, both during periods of crisis and in the absence of crises. The empirical results show that: (1) The MSVAR model is effective in capturing the nonlinear relationship between the economy and tourism and allows for the categorizing of this relationship into four regimes, for example, the "major event crises" regime and the "economic crises" regime; (2) The economic effects of tourism differ noticeably across the four different regimes, and sustainability varies depending on the presence and type of crisis; (3) The Hong Kong economy, and the tourism industry in particular, exhibits high levels of stability and sustainability. In short, economic growth in Hong Kong's tourism industry is capable of rapid recovery following major crisis events, and it has the capacity to rebound quickly into new periods of rapid growth. [ABSTRACT FROM AUTHOR]

Purpose: Since financial sector plays a critical economic role in Hong Kong, the current research aims to comprehensively analyze the association between financial development and economic growth in the country to draw correct conclusions about the impact that financial sector's development has on the growth of the economy. This requires both using of more comprehensive data that includes all or nearly all elements of the country's financial sector and utilizing advanced econometrics techniques to provide more reliable evidence based on the findings. In the study, both issues have been addressed more academically to aid the relevant authorities better. Design/methodology/approach: This study empirically examines the financial development-economic growth nexus in Hong Kong employing data covering 1980–2019. The quantile-on-quantile (QQ) approach of Sim and Zhou (2015) is utilized to investigate certain subtle aspects of the association linking financial development and economic growth. In addition, the authors benefit from applying the nonlinear Granger causality test of Diks and Panchenko (2006) to assess the variables' nexus in a nonlinear manner. Findings: In contrast to the evidence of a unidirectional linkage documented in many related studies, the empirical findings suggest that a bi-directional relationship exists between financial development and economic growth for Hong Kong. This is a helpful input for the relevant policymakers and implies that they can set appropriate policies and regulations to balance financial development and economic growth in this country. Originality/value: The originality of this study can be divided into two parts. Methodologically, unlike past studies that utilized mostly linear and parametric methods, the paper contributes to the literature by applying the more robust nonparametric and nonlinear methodologies. Theoretically, most researchers have used various financial development indicators, which led to very different conclusions. Therefore, this study attempts to resolve this deficiency in the literature by using a more comprehensive index for financial development. [ABSTRACT FROM AUTHOR]

Even though many African and Asian countries share a common history of European colonialism and thus a model of economic development shaped within the aegis of center-periphery analysis, many Asian countries have been able to ride through the burden of center-periphery economics and built more successful political economies than most African countries. This state of affairs has often led many African analysts to point to Asian success stories like China and South Korea for comparative analysis and often see these Asian countries as models of socio-economic and socio-cultural success to emulate. In particular, Africans in the Diaspora, especially Africans in China, tend to compare very frequently the socio-economic and socio-cultural conditions of their host countries with those of their source countries. This paper outlines and discusses how a group of Africans living in Hong Kong and other parts of Asia see Korea and Korean culture through the prism of Korean television dramas, which constitute a popular cultural phenomenon among Hong Kong/Asian youths. Through qualitative and quantitative survey methods, participant-observation, and questionnaire surveys, the paper reports on how African community members of Hong Kong and others think of Koreans. We show that Africans draw a lot of comparisons between Korean and African ways of conceptualizing the world. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to examine the macroeconomic drivers of stock market development in Hong Kong during the period 1992Q4-2016Q3. Specifically, it investigates the impact of banking sector development, economic growth, inflation rate, exchange rate, trade openness and stock market liquidity on stock market development. Design/methodology/approach: This paper uses quarterly time-series data covering the period 1992Q4-2016Q3, which have been obtained from various reliable sources. The study uses the autoregressive distributed lag bounds testing procedure to identify both the long- and short-run macroeconomic drivers of stock market development in Hong Kong. Findings: We find that banking sector development and economic growth have positive impacts on stock market development, whereas the inflation rate and the exchange rate have negative impacts on stock market development both in the long and short run. In addition, the results show that trade openness has a positive long-run impact but a negative short-run impact on stock market development. Originality/value: Despite the phenomenal growth of stock market in Hong Kong, there are, to the best of the authors' knowledge, no relevant studies on the macroeconomic drivers of stock market development in Hong Kong. Therefore, this paper endeavours to enrich the literature by examining the macroeconomic drivers of stock market development in Hong Kong during the period 1992Q4-2016Q3. [ABSTRACT FROM AUTHOR]

As the booster of modern economic transformation, technology and finance are very important in economic life. As a financial center with global influence, Hong Kong uses blockchain technology, which can not only improve the sustainable economic development of the HKSAR but also promote the coordinated development of the inland economy. Based on the importance of building Hong Kong as an international technology and financial center, this paper discusses the practical problems in the construction process and concludes the important role of blockchain technology in helping Hong Kong into an international technology and financial center. [ABSTRACT FROM AUTHOR]

In the present era, people are facing enough challenges, either personally or technically, and some people do suffer from having to keep up with the current technological improvements. The Guangdong-Hong Kong-Macao Greater Bay Area (GHKMGBA) is one of the areas that has been highly managed for tourism with economic networks in it. Here, the exploitation results in underground spacing management automate the alleviation process using various methods. Apart from the characterization, it is one such mandatory consideration to create a master plan with the rise of utilization and urban underground spacing planned to be placed among large cities for tourism is considered. This paper focuses on the strategy to understand the concepts and popularisation of urban underground spacing. This matter is followed by a complementary approach with a supportive technical system. This research focuses on economic development in the cities of GHKMGBA, and the analysis is carried out with the implementation of the backpropagation neural network (BPNN). [ABSTRACT FROM AUTHOR]

Economic growth of a country shall be measured with the help of several macroeconomic aggregate. The Gross Domestic Product (GDP) gains at most significance while estimating the economic growth of any country. Liberalisation of trade practices and globalisation are considered to be a key component contributing to the economic growth in several economies. Several literatures also prove the same. This paper attempts to study the causal link between FDI inflows, imports, exports, trade openness and GDP in the selected developing economies. According to the World Investment Report 2019 published by UNCTAD China, Hong Kong, Singapore, Brazil and India rank among the top 10 developing economies in terms of attracting high FDI inflows. For the purpose of the study the South Asian economies that is, China, Hong Kong, Singapore and India have been considered. The results reveal a long run association among the variables. [ABSTRACT FROM AUTHOR]

The article discusses the annual Institute of Electrical & Electronics Engineers (IEEE) Robotics and Automation Society (RAS) conference, known as the 2014 IEEE International Conference on Robotics and Automation (ICRA) held at the Hong Kong Convention and Exhibition Center in Hong Kong, China from May31?June 5, 2014. It mentions that conference's theme was "RA: Technologies Enabling New Economic Growth." It also elaborates on the winners of the ICRA 2014 awards under different categories.

Sci-tech innovation is an important measure for the Guangdong– Hong Kong–Macao Greater Bay Area to achieve high-quality economic development. theoretically, there is a coupling coordination relationship between sci-tech innovation and high-quality economic development, and coordinating the relationship between the two is beneficial to building the Guangdong– Hong Kong–Macao Greater Bay Area into an international innovation and technology hub and promoting high-quality economic development. At present, the Guangdong–Hong Kong–Macao Greater Bay Area has seen a year-on-year increase in both the level of sci-tech innovation and the level of high-quality economic development, with a sound development trend. Its coupling coordination degree between sci-tech innovation and high-quality economic development has steadily improved from a slightly uncoordinated stage to a primarily coordinated stage, but the overall degree of coordination is still not high, with some gaps from realizing the excellently coordinated stage. From the perspective of spatial distribution, the internal development of the Guangdong-Hong Kong–Macao Greater Bay Area is unbalanced, with obvious differences in development level and coupling coordination degree among cities. e convergence analysis shows that the differences in the coupling coordination degree among the cities in the Guangdong Hong Kong–Macao Greater Bay Area have stabilized after narrowing during the study period. However, the difference among the cities with higher coupling coordination degrees tends to widen in recent years. therefore, necessary measures should be taken to promote the coordination between sci-tech innovation and high-quality economic development in the Guangdong–Hong Kong–Macao Greater Bay Area. [ABSTRACT FROM AUTHOR]

Since the end of the 1950s and the beginning of the 1960s, Asia has begun the race for economic supremacy at the global level. The so-called "Four Asian Tigers" are those countries which have continually experienced rapid and significant economic growth over the last half of century and comprise the high growth and income economies of Singapore, Hong Kong, South Korea and Taiwan. These East Asian countries were largely considered as economic models since their growth rates of real per capita gross domestic product in the period 1960-1995 reached around 6% per year. As economic growth represents the outcome of specific issues, the paper aims to identify and present the main factors that contributed to the meteoric growth of the Asian Tigers by focusing on the economies of three of them, namely Singapore, Hong Kong, and South Korea. The methodological approach was based on a quantitative method. The paper argues that important lessons related to economic growth could be drawn from the valuable experience of these countries. Also, it identifies and presents some of the most important factors, such as the developmental state and the rapid industrialization, that highly contributed to their impressive economic growth. [ABSTRACT FROM AUTHOR]

This paper focuses on the development of Hong Kong's cultural economy and its translation into urban space. On the one hand it focuses on recent economic development and planning strategies to develop a post-colonial identity based on the international cachet of attracting creative industries. On the other hand, it considers the development of grassroots initiatives that herald the potential articulation of Hong Kong as a culturally dense global city. These grassroots initiatives are analyzed from the perspective of their problematic relationship with urban space, and how urban planning both supports and hinders cultural development. The paper argues that top-down planning is in large part catalytic, yet at the same time can run counter to the development of genuine artistic expression. It stresses the importance of ‘middleground’ actors in facilitating the development of spaces for artistic creation, particularly in their productive interlocking with different forms of artistic expression and public policy initiatives. The middleground can be conceived of as a relational space produced by various processes, actors and structures operating at different scales between institutional actors and the interests of ‘underground’ creativity. The article concludes by problematizing the role of middleground actors and underlines the value of ‘unpacking’ the middleground in order to account for the contested and negotiated processes it embodies. Renewed attention to these processes will contribute to enhancing the development of sites of artistic expression in Hong Kong and other emergent contemporary contexts. [ABSTRACT FROM AUTHOR]

A bulk of literature has identified the major economic drivers of Hong Kong's rapid and steady economic performance over the last three decades. Of the major economic drivers identified, the performance of the stock market has received less attention. This paper examines the causal links between the stock market performance and economic performance of Hong Kong in an augmented VAR setting. Using an extended quarterly dataset that covers the period of 1986Q2-2014Q4 and the Toda-Yamamoto causality test, we find that stock market performance as proxied by the market capitalization ratio and economic performance stimulate each other. In addition, stock market performance as proxied by the total value traded ratio and economic performance influence each other. However, the causal links between stock market performance and economic performance dissipate if stock market performance is proxied by the turnover ratio. This finding suggests that the causal links between stock market performance and economic performance are highly dependent on the proxy used for stock market performance in the case of Hong Kong. [ABSTRACT FROM AUTHOR]

The aim of this study is to comprehensively evaluate the economic network patterns and their influencing factors of the Guangdong–Hong Kong–Macao Greater Bay Area (GHMGBA) in China, considering population scale, economic development level, and land-resource endowment. By employing a modified gravity model and a social-network method, we quantitatively analyzed urban agglomeration integrity indices, such as network density, edge–core structure, cohesive-subgroup index, and urban individual index (e.g., centrality degree) of this region, encompassing nine cities in Guangdong Province and two special administrative regions. The results revealed significant changes in the economic network patterns within the GHMGBA over time. Furthermore, the quadratic assignment procedure correlation analysis index was used to identify the various factors affecting the strength of the economic interaction. The findings demonstrated an annual increase in the strength of economic interaction between cities and regions within the GHMGBA over the past 20 years, along with the emergence of a polycentric economic development pattern. The results also suggest that the spatial location and level of economic development are key determinants influencing the strength of economic linkages in this area. This study supports the conclusion that deepening exchanges and cooperation among core cities, bolstering economic development in sub-core cities, and facilitating the construction of an integrated regional transportation network will expedite the process of economic integration. [ABSTRACT FROM AUTHOR]

This study investigated the spatiotemporal evolution of economic development in 23 cities across Guangdong Province, Hong Kong, and Macau from 1990 to 2022. The results indicated a general growth trend in overall economic development, with substantial fluctuations in absolute differences and a significant reduction in relative differences. The economic development appeared to be balanced both within and between cities. Spatially, the study revealed an increasing agglomeration effect, evident polarization in economic levels, and a distinct core–periphery structure, with central cities in the Greater Bay Area exerting a growing influence on their peripheries. Nevertheless, the peripheral cities, despite their economic strides, necessitate augmented policy interventions and capital influx to bridge regional chasms. The study's outcomes serve as a foundational reference for sharpening policy decisions, fostering regional amalgamation, and invigorating urban blueprinting and city-to-city synergies. This research provides an in-depth analysis of economic development trends across 23 cities in Guangdong, Hong Kong, and Macau over 32 years. For policymakers, urban planners, and business leaders, the findings present a clearer picture of the region's economic landscape. Notably, while central cities within the Greater Bay Area have become influential economic hubs, surrounding cities still face challenges. These insights suggest a need for more targeted policies and investments, especially in peripheral cities, to promote more uniform growth across the region. By understanding these dynamics, governments and businesses can make more informed decisions that foster city-to-city collaborations and develop better urban and regional strategies. [ABSTRACT FROM AUTHOR]

Family and work conflict (F/WC) has gained prominence in developed economies in Asia as individuals are faced with the increased demands from work and families that are still considered very important. Hong Kong and Taiwan best illustrate the changing social and economic conditions that have given rise to this conflict. In these two societies, people have demonstrated a strong emphasis on work, even when it entails the sacrifice of family tasks and duties. An array of informal and formal services have been mobilized to allow people to fulfill their duties to work and family. Based on surveys conducted in Hong Kong and Taiwan in late 2009, this paper investigated F/WC and life satisfaction. Specifically, it examined changing life aspirations, both material and non-material, as predictors of F/WC and life satisfaction. The surveys found that respondents had high aspirations for both their family and their work, and for both material and non-material assets, and that they experienced high-level F/WC. Based on the statistical analysis, we argue that minimizing the interference of family life on work and emphasizing non-material life aspirations could promote better life satisfaction. [ABSTRACT FROM AUTHOR]

Overall development goal of the Greater Pearl River Delta (GPRD) region is to the emergence jointly as the most dynamic, internationally competitive, world-class city cluster of the Asia-Pacific region. To achieve this goal harmonious regional integration towards sustainable development is decisive. But, Rapid discordant economic integration resulted social and environmental squalor which denotes the adequate attention towards the necessity of harmonizes integration for sustainable development. So, the main aim of this paper is to prepare a harmonious integration model which will be useful for urban planners, policy makers and researchers who are directly or indirectly involved or willing to involve in the task of regional integration in Hong Kong. Literature review is the main source of information of this study. In this paper, firstly, regional integration of Hong Kong as well as the concept of sustainable development is described from theoretical point of view. Then, status of sustainable development in Hong Kong under regional integration is briefed. In this section, some challenges of Hong Kong are identified which hindering economic vibrancy as well as overall social progress and environmental soundness of Greater Pearl River Delta. After that, the reasons of mismatch narrated and finally in the way forward section integration model is prepared as well as some recommendations are suggested to overcome existing constraints and to facilitate sound regional integration and sustainable development of Hong Kong as well as the PRD in the longer term. [ABSTRACT FROM AUTHOR]

From the chronological analytical review regarding municipal solid waste management (MSWM) and governance optimisation progress in Hong Kong since 2002, it is noted that the policy outcomes have seriously deviated from the original policy goals under the hitherto lack of effective development in bureaucratic and economic policy cultures in municipal solid waste (MSW) strategies formulation and related programmes implementation. The policy analysis specially stated that although the MSW recycling ratio (30%) is not particularly poor, the recovered percentage of plastics, glass and food waste in Hong Kong are extremely low. Based on the unfavourable outcomes and consequences for MSWM and governance in Hong Kong, a conclusion of negative correlation between the per capita MSW disposal rate and bureaucratic policy culture development, as well as positive correlation between recycling rate of low value items and economic policy culture development, can be made. With considering the key factors of benchmark indicators, socio-economic factors, driving force, and communication of MSW policy, conducive options and prospects are also developed for the attempt to provide insights to restructure MSWM and governance in Hong Kong in the next decade. First, the government can build up strategic innovation from a global benchmark case – MSWM and governance improvement from the South Korea case. Second, to create opportunities and conditions to develop high value biofuel from waste through flexible local environmental policies formulation and implementation. Third, shifting a front-line MSWM for governance structure reform. [ABSTRACT FROM AUTHOR]

With the increasing interest in entrepreneurship education within engineering education, there are questions on what engineering entrepreneurship education should include. As engineering entrepreneurship education aims to foster entrepreneurial individuals who will contribute to knowledge-based societies and economic growth, student perspectives are crucial. This study assessed first and final year engineering students' perceptions on entrepreneurship education in a university in Hong Kong, identifying important competencies as learning outcomes and motivating and deterring factors for students to pursue entrepreneurship as a career. Findings offer implications for curriculum design and educational practices, particularly on formally offering entrepreneurship education in the engineering discipline, involving competencies development in educational practices and developing opportunities addressing students' factors of motivation and deterrence. [ABSTRACT FROM AUTHOR]

This paper reviews recent developments regarding social housing policies in Hong Kong and the UK. Underlying the analysis is the fact that, during the last 40 years or so, both countries have been major global players in financial markets and thus pursued aggressive market-driven approaches to economic development. Notwithstanding that fact, each followed a different direction regarding housing policy reforms in the period. In Hong Kong (HK), the system of public housing provision was expanded; in the UK, the system of housing provision was scaled down. The argument being developed here is that a pro-public housing approach in HK should not be seen as a threat to capitalism in any way or measure. On the contrary, land development as well as land-originated fiscal revenues is a crucial part of HKSAR government's revenues. In the UK, this is no different. The return (through various forms of privatization) of the public housing stock (Council housing) to private hands (homeowners and housing associations) meant also to enhance businesses, in particular the mortgage and real estate markets. In both cases, there were also clear political reasons that justify developments in housing policy. The idea that Council housing served as a stage in the passage from a time when housing was predominantly provided in a largely unregulated private-rental market to a time when most people became homeowners is also discussed. This was what defined the ‘modernization’ of housing in the UK. The of ‘residualization’ was adopted to discuss the UK case. One important question is to know whether Hong Kong will follow the same path of ‘modernization’ as the UK, in the future. So far, HK has resisted; public housing has been ‘resilient’, ensured by a proper repair and maintenance policy, redevelopment and production of new housing throughout the last decades. Resilience is also granted by people's recognition and attachment to public housing and low stigmatization. More importantly, public provision of housing continues to be regarded, in both countries, as a necessary development to grant quality of life and a better distribution of income, avoiding the sharpening of social and territorial segregation, gentrification and stigmatization. [ABSTRACT FROM AUTHOR]

This article conceptualizes the financial policy regimes of London, Hong Kong, Singapore and Shanghai, in the process of comparing and contrasting the sociopolitical relations that exist within the four cities. Based on the data collected from extensive field research, I identify four distinct financial policy regimes. First, a combination of low state intervention and influential industry actors in London reflects a financial policy regime that features dominant industry interest groups. While Hong Kong similarly features low state intervention, its industry actors are not influential. In contrast, financial sector development in Singapore features a ‘cocreation’ of financial policies by a close-knit network of state and industry actors. Lastly, Shanghai’s financial policy regime is largely dominated by state actors from both the central and local levels. By delineating and analyzing the policy regimes of the four international financial centers (IFCs), this article provides the first step toward a clearer and more critical understanding of how sociopolitical relations impact IFC development. In the process, it extends the analysis of IFCs beyond conventional neoliberal understandings of economic development. [ABSTRACT FROM PUBLISHER]

Developed countries have experienced economic restructuring in the past decade which leads to deindustrialization. Many industrial buildings are left vacant or under-utilized owing to global economic shift from developed countries to developing countries of lower wages. The shift of economic activities from manufacturing to financial and business services causes tremendous increase in the value of properties in urban areas. Many artists cannot afford the high land cost and move to some of the industrial buildings which are converted into other uses such as studio. Hong Kong also experienced similar economic restructuring in the past decade. Industrial buildings become vacant or under-utilized. The Hong Kong Government of Special Administrative Region worked out the Revitalizing Industrial Building policy to expedite urban regeneration of industrial areas and optimize land use. Wholesale conversion and redevelopment is regarded as potential means to revitalize industrial buildings. Based on a series of case studies of different revitalizing industrial buildings in Hong Kong, this paper analyzes the potential measures to enhance the revitalizing process. The research identified facilitating measures that can be categorized into three main aspects, which includes rezoning old industrial areas into more diverse uses; government can offer some financial benefits to owners and provide appropriate facilities in neighbourhood. [ABSTRACT FROM AUTHOR]

Accurately grasping the structural characteristics and influencing factors of green development spatial association are significant for green coordinated development and ecological civilization construction in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). This study evaluates the GBA's green development performance from 2015 to 2019 based on duality theory, and uses social network analysis to explore the structural characteristics and evolution of the green development spatial association network, and then uses the exponential random graph model to reveal the influencing factors of network formation. we find that: (1) the GBA's green development is steady. Its spatial association network became increasingly complex, and tends to be tight. (2) As important hubs, Guangzhou, Shenzhen, and Hong Kong have the dominant positions in the GBA's green development spatial association network. Huizhou, Jiangmen, Zhaoqing, and Macao are at the edge of the network, and their interoperability with other cities is relatively weak. (3) Four subgroups exist in the GBA during different periods, with obvious gradient characteristics between them, and the multilevel transmission mechanism of the green development network gradually forms. (4) Economic development and urbanization level, ecological environment endowment, and geographical, institutional, and industrial proximity all have significant impacts on the formation of the GBA's green development spatial association network. [ABSTRACT FROM AUTHOR]

In the context of aggravating environmental problems, the concept of green economy, advocated by policies introduced to solve such problems, is being increasingly recognized and emphasized. In addition, digital technologies, represented by the Internet, big data, and artificial intelligence, are constantly integrating with economic and social fields, gradually becoming an important driving force for economic and social development, and also bringing certain positive environmental effects. This study investigated the spatiotemporal evolution characteristics of the green economy of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) in the past three decades (1987-2018) under the background of administrative division adjustment and artificial intelligence development. First, the overall green economic development level of the GBA from 1987 to 2018 was analyzed using the superefficiency slack-based measure model. Then, the spatial pattern evolution characteristics and regional differences of green economy in the GBA in this period were assessed by the exploratory spatial data analysis model. According to the results of this study, (1) the green economic development levels of Guangzhou, Shenzhen, Foshan, Zhaoqing, and Hong Kong in the GBA always followed an increasing trend from 1987 to 2018. To be specific, Foshan, Zhongshan, Hong Kong, and Macao ranked among the top areas in the GBA in terms of average green economic development level; moreover, a strong positive correlation was found between economic strength and green economic development. (2) The overall green economic development level of the GBA roughly followed a trend of first decreasing and then increasing, fluctuating around 0.45 on average. (3) Clearly, the green economy of various cities in the GBA showed certain correlations in 1987-2005, but with great fluctuations. However, no spatial correlation was observed after 2006. On the whole, in the GBA, the spatial agglomeration of green economy was weak. (4) There was a general lack of obvious spatial agglomeration in the overall green economic development of the GBA, especially in western Guangdong. In contrast, spatial agglomeration was obvious in eastern Guangdong. [ABSTRACT FROM AUTHOR]

Economic potential and social benefits of new infrastructures construction contribute to the development and improvement of life comfort in Hong Kong. However, increasing fatal accident cases on construction sites associated with improper use of crane, call for further awareness and reflection on improvement of construction methods and safety precautions. This paper, throughout a review of existing research studies and literature, addresses construction overall occupational safety and health performance concerns in Hong Kong, and proposes new measures that may potentially contribute to prevent and minimize crane related accidents in construction industry. As a result, virtual prototyping software methodologies, widely diffused and applied in construction might significantly contribute to, not only improve the construction methodologies, but also avoid the main causes of fatal accidents, in particular, human error associated with inappropriate setting of construction methods, selection, placement and traffic of cranes; and localization /design of construction sites. Newly developed and applied technologies in automotive industry may serve as effective measures in reducing accidents and enhancing safety in construction industry. [ABSTRACT FROM AUTHOR]

Tourism markets are heterogeneous, and their performance and effects can be better understood when considered separately. This paper investigates the linkages between tourism demand from several markets and quality of life, using Hong Kong as a case of study. The literature has, initially only considered a unilateral relationship running from aggregate tourism development to residents' quality of life, and a bilateral connection has only recently been recognized. The study contributes to the literature by considering a market-segmented (mainland China, Japan, the U.S., and other markets) approach to tourism demand, using a relatively underemphasized objectively-based method, and by providing building blocks for theoretical propositions. The methodology consists of unit root and cointegration testing, together with the application of the Three-Stage Least Squares method with the Seemingly Unrelated Regression approach on time-series data. The identified market-based differences can help academia and industry in better understanding the diverse markets and building a competitive edge. • Market-based segmentation influences the connection between tourism demand and residents' quality of life in Hong-Kong. • Both tourism demand and quality of life are supportive of economic development in Hong Kong. • Tourism markets are heterogeneous with their interaction with the economy and residents' quality of life. • The influence of tourism from mainland China tourists on the economy and residents' quality of life may take time to materialize. [ABSTRACT FROM AUTHOR]

Hong Kong's immigration history has close interrelatedness with the socioeconomic development in China. One of the immigration history was signified by the One-way permit system, which was first introduced in the 1950s. The One-way permit system is featured as a point-based system to enable the eligible Mainland residents to settle in Hong Kong for the sole purpose of family reunion. Due to a reversal of cross-boundary marriage pattern, the quota of the One-way permits was concomitantly under-utilized. The median age of the One-way permit holders increased in such a way that the holders aged 25-34 and 35-44 increased substantially from 22% in 1998 to 42% in 2016 while there was a sharp cut of One-way permit holders aged 5-14 from 50% in 1998 to 11% in 2016. Apart from the increasing median age, the One-way permit holders predominantly were secondary schoolers. They were economically inactive before moving to Hong Kong but most indicated the interest to work in Hong Kong. The profile appears unattractive to alleviate the labor shortage in Hong Kong. Worse still, the One-way permit system creates the other problems such as the split families, quota misuse by the Mainland officials, and the difficulty of One-way permit holders to integrate into Hong Kong society. A comprehensive population policy entails the departure from the colonial legacy to give the HKSAR government authority to vet and approve the applications. [ABSTRACT FROM AUTHOR]

Hong Kong is highlighting its position as a 'super-connector' to China in the Belt and Road Initiative. Premier Li Keqiang's Five-Year Plan unfurled in March 2016 noted that Beijing will be augmenting Hong Kong's economic position. Many expect the central government's policies towards Hong Kong in the post-19th Party Congress era to remain unchanged since the broad directions to managing Hong Kong have already been laid down. [ABSTRACT FROM AUTHOR]

This study investigates the impact of institution and built form on trends to gentrification in Hong Kong, investigating both public and private and larger and smaller development projects. It identifies three models of gentrification, the “black hole” model, suggesting that very large, public sector projects may have little trickle-down effect; the “happy days” model, which provides needed residential and commercial space for the post-industrial economy, but appropriately sized sites are now very limited; and the “cooked frog” model, where in situ, piecemeal redevelopment may act to slow the pace of gentrification and thus help to retain socially mixed neighbourhoods for a time. However, while to some extent physically bounded, by following the predicted outcome of normal bid rent activities, it is also the most pernicious of the three models because it is self-sustaining and thus is likely to drive out original residents and traditional businesses over time. Each of these models points to an East Asian model of gentrification as well as raising important theoretical issues to contribute to the international gentrification debate. [ABSTRACT FROM AUTHOR]

This chapter introduces demographic variables in empirical regression to help find whether demographic changes have an impact on economic growth. There is evidence from estimated values in this chapter to suggest that there is no impact that demographic changes in Hong Kong is affecting the economic growth. The population growth has purely a transition impact where the fertility rate was low in early 2000 up to 2015 as the size of the dependency ratio increases. Besides testing demographic variables the government emphasises better education for all people of ages for prosperous growth but in fact has a negative response on educational investment on the growth of the economy. A well-educated country individual does not suggest a higher productivity in economy growth. An important implication is that there has been no single variable as yet that has seriously impacted the economy growth, but there will be changes in the coming years and has to be attended in result to avoid a diminishing economy. [ABSTRACT FROM AUTHOR]

With China's rapid economic development in recent years, a number of environmental problems have surfaced. More educated Chinese consumers are becoming concerned about the adverse environmental impacts of their consumption activities. Thus, the Chinese market for green products has been growing substantially, and research study of Chinese consumers' green buying behaviours is important. This study was conducted in Hong Kong among 457 respondents to examine their environmental attitudes and green buying behaviours. The responses were analyzed by descriptive statistics, reliability analysis, and partial least square structural equation modeling (PLS-SEM). A model is proposed that depicts the influence of consumers' environmental attitudes, environmental concern, perceived environmental responsibility, and perceived effectiveness on green purchase behaviour. The results demonstrate that consumers' perceived environmental responsibility and perceived effectiveness of environmental protection play important roles in promoting their attitudes toward and intention of buying environmentally friendly products. Perceived environmental responsibility also fully mediates the relationship between consumers' environmental concern and their intention of buying eco-friendly products. Finally, the current research supports the view that Generation X consumers put stronger emphasis on the effectiveness of their actions in proenvironmental consumption. The findings contribute to the literature on green marketing and have implications for conducting green marketing in Hong Kong and China. [ABSTRACT FROM AUTHOR]