ABSTRACT
Since 1998, Hong Kong has reduced the cost of doing business in the territory and also reformed its financial markets by strengthening its monetary system and adopting various financial reform packages. These include the opening up of the banking sector to more foreign competition and the merger and demutualization of the securities and futures markets. The Growth Enterprise Market was launched and the groundwork for various infrastructure facilities including the Science Park and the Cyberport was laid for Hong Kong to take full advantage of the new economy. Hong Kong continues to open up its telecommunications and broadcasting sectors and will see the development of a Disneyland theme park, scheduled to open in 2005.
