Hong Kong's Trade Policy

Hong Kong is a free port which thrives on free trade. Its open door policy has enabled it to become one of the world's largest trading economies and an international financial and commercial centre serving the Asia-Pacific region and the Mainland of China.

The cornerstone of this approach is a strong and credible multilateral trading system. The World Trade Organization (WTO), which came into being on 1 January 1995 to succeed the General Agreement on Tariffs and Trade (GATT), provides strengthened rules and disciplines for the conduct of multilateral trade. Hong Kong is a founding member of the WTO and has been participating actively in its activities. This testifies to Hong Kong's dedication to an open and free multilateral trading system. Hong Kong has continued its separate membership since July 1, 1997 using the name "Hong Kong, China".

Hong Kong became a member of the Asia-Pacific Economic Cooperation (APEC) and the Pacific Economic Cooperation Council (PECC) in 1991. Hong Kong belongs, in its own right, to the Asian Development Bank (ADB) and the World Customs Organization (WCO). It is an associate member of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) and relates, in varying degrees, to the United Nations Conference on Trade and Development (UNCTAD). Since April 1994, Hong Kong has been an observer of the Trade Committee of the Organization for Economic Cooperation and Development (OECD). Hong Kong continues to participate actively in APEC, PECC, and the OECD Committees as from July 1, 1997 using the name "Hong Kong, China".

The free trade policy means Hong Kong maintains no barriers on trade. Thus, Hong Kong does not charge tariff on importation or exportation of goods. Import and export licensing is also kept to a minimum. Licensing is only imposed when there is a genuine need to fulfil obligations undertaken by Hong Kong to our trading partners, or to meet public health, safety or internal security needs.