Total population for Hong Kong was 7.6 million in 2024 with nominal GDP equaling $402 billion. Nominal GDP per capita equaled $53,165 in this same year.
The United States has substantial economic ties with Hong Kong. In August 2020, the U.S. State Department reported that there are some 1,300 U.S. firms and approximately 85,000 U.S. residents in Hong Kong. The latest available figures on U.S. direct investment in Hong Kong show investment at about $86.8 billion, making the United States one of Hong Kong’s largest investors.
U.S. – Hong Kong Trade
In 2024, U.S. exports to Hong Kong totaled $27.89 billion. Top exports were computer and electronic products at $10.73 billion of the total, followed by miscellaneous manufactures ($6.78 billion), transportation equipment ($1.85 billion), chemicals ($1.25 billion), and used or secondhand merchandise ($1.21 billion).
Imports from Hong Kong to the U.S. totaled $5.97 billion in 2024. Imports consisted largely of reimports ($2.66 billion), primary metal manufactures ($1.26 billion), miscellaneous manufactured ($1.20 billion), computer and electronic products ($306 million), and processed foods ($98 million).
California – Hong Kong Trade
Hong Kong was the 9th largest export destination for California in 2024 which exported approximately $5.56 billion in goods to Hong Kong. The top category of California exports to Hong Kong was computer and electronic products totaling $3.46 billion. Miscellaneous manufactures ($706 million), processed foods ($242 million), agricultural products ($226 million), and chemicals ($190 million) were the other top California export categories to Hong Kong.
Imports in this same year totaled $495 million. Top imports included miscellaneous manufactures ($189 million), reimports ($106 million), computer & electronic products ($57 million), processed foods ($44 million), and apparel & accessories ($20 million).
There are 98,000 Hong Kongers that call California home, which make up 51% of all Hong Kong immigrants within the U.S. There are 1,000 students from Hong Kong studying in California universities each year. In 2017, 62,000 Hong Kongers traveled to California as a tourist destination, which accounted for 42% of all Hong Kong tourists to the U.S. Per capita, Hong Kong is the largest importer of California goods. Hong Kong is the third largest importer of U.S. wine exports internationally and the largest Asian importer of wine. (LAEDC and HKTDC)
FDI – Hong Kong
In 2023, total FDI stock in the US from Hong Kong totaled $18.1 billion, while U.S. FDI into Hong Kong totaled $90.6 billion. In 2022, Hong Kong FDI in the US supported 37,300 jobs and invested $18.1 billion in research and development and another $1.8 billion in expanding US exports. The top industry sectors for Hong Kong FDI in the US were: industrial equipment, software and IT services, communications, food and beverages, business services, and financial services. Select USA
World Competitiveness Yearbook 2013 names Hong Kong as the third most competitive economy, after the USA and Switzerland. The Yearbook, ranks the ability of economies across the world to create and maintain an environment that sustains the competitiveness of enterprises therein. The report selected 59 economies for ranking.
Events
Events
On Monday, February 3, 2025, the CalChamber welcomed representatives of the Hong Kong Economic Trade and Development Council (HKTDC) to Sacramento together with CalChamber Board member, Margaret Wong.
(From Right to Left) Margaret Wong, mwConnect Founder/President, Chair of the Federation of Hong Kong Business Associations Worldwide, Regina Lai, Regional Director of the Americas HKTDC, Susanne Stirling, Senior Vice President of International Affairs, CalChamber, and Chi Tran Officer-in-Charge, Los Angeles Regional Office HKTDC.
In December 2014, Margaret Wong was elected Chair of the Federation of Hong Kong Business Associations (HKBA) Worldwide.
The HKBA was established in November 2000 with the support of the Hong Kong Trade Development Council which comprises 48 overseas Hong Kong business associations spanning 37 countries and regions, with nearly 11,000 members. These members are local business elites and are considered Hong Kong’s closest allies and partners in global markets.
The meeting conversation centered on California business opportunities with the Federation of Hong Kong Business Associations Worldwide and the Hong Kong Trade Development Council.
On Tuesday, February 4, 2020, the CalChamber hosted the Hong Kong Economic and Trade Office Commissioner Eddie Mak for a meeting in Sacramento.
(From left to right: Michael Yau, Deputy Director, Hong Kong Economic and Trade Office, San Francisco; Ivanhoe Chang, Director, Hong Kong Economic and Trade Office, San Francisco; Susanne Stirling, VP International Affairs, CalChamber; Commissioner Eddie Mak, Hong Kong Economic Trade Office.)
Trade, investment and innovation were topics of discussion on March 14 when representatives of the Hong Kong Economic and Trade Office stopped by the California Chamber of Commerce.
The Honorable Clement C.M. Leung (left), Hong Kong commissioner to the U.S.; and Mrs. Margaret Wong, president and CEO of McWong International, and member of the CalChamber Board.
The Hong Kong commissioner to the United States, Clement C. M. Leung, JP, highlighted the numerous trade opportunities and advantages Hong Kong offers to California businesses at a California Chamber of Commerce international luncheon forum on February 6, 2014.
The event was attended by Assembly members Travis Allen (R-Huntington Beach), Brian Jones (R-Santee), and Sebastian Ridley-Thomas (D-Los Angeles); representatives from the Governor’s Office of Business and Economic Development (GO-Biz); and representatives from the U.S. Department of Commerce and U.S. Commercial Service.
Leung introduced Hong Kong as a “place where the East meets the West,” a launching pad both for U.S. businesses looking to enter the Asia market and for Chinese enterprises, which are venturing out onto the global stage.
(From left to right) Mr. C.T. Wong, deputy director, Hong Kong Economic and Trade Office; Mr. Rick Fowler, president and CEO of The Community College Foundation, and member of the CalChamber Board; Mrs. Margaret Wong, president and CEO of McWong International, and member of the CalChamber Board; The Honorable Clement C.M. Leung, Hong Kong commissioner to the U.S.; Mrs. Susanne Stirling, CalChamber international affairs VP; and Ms. Subrina Chow, director of the Hong Kong Economic and Trade Office
International Luncheon Forum: US/CA – Hong Kong Relations
Donald Tong, Hong Kong commissioner and CalChamber President Allan Zaremberg.
(February 23, 2010) Despite the recent global recession, Hong Kong has turned doldrums into opportunities by making duty-free wine a key catalyst for economic prosperity, Hong Kong Commissioner Donald Tong said yesterday.
Tong spoke at a Sacramento international luncheon forum hosted by the California Chamber of Commerce and the Hong Kong Economic and Trade Office in San Francisco. He discussed how Hong Kong, a special administrative region of the People’s Republic of China, has managed to preserve its commitment to free market principles and competitive spirit while dealing with the slow economy.
In 2008, Hong Kong removed duty off wine, making it the first duty-free wine port among major economies.
“Removal of wine duties certainly helps encourage more locals and tourists to drink in Hong Kong, but this measure was introduced with a much bigger objective in mind: The development of Hong Kong into a hub for wine-related business,” Tong said.
Total population for Hong Kong was 7.6 million in 2024 with nominal GDP equaling $402 billion. Nominal GDP per capita equaled $53,165 in this same year.
