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原題目題號：DSE-2020-Essay-01
中國因素如何影響香港的經濟發展？試參考直至1997年英治時期的歷史，解釋你的看法。
香港與中國的地理位置相近，中國的發展一直都大大影響著香港的經濟變化。香港在英治時期大體上有3次經濟的轉變，分別由1952年前的轉口貿易發展至1950-70年代的工業發展，再轉型至現時的多元經濟模式。其中，中國因素有著舉足輕重的影響力，以下將逐一探討。
於1952年前，中國與外國的貿易關係是香港能夠發展轉口貿易的要因。於1841年開埠前，香港只是一個落後的小漁村。然而，英國於接管香港後，運用香港鄰近中國，而且連接到其他地區的地理優勢，將香港發展成為一個蓬勃的轉口港。自始，香港是外國商船通往中國貿易的南大門，也是中國與外國貿易的主要中轉站，包括轉口陶瓷、茶葉及紡織品等貨品。在1900年時，從香港運到中國的貨品就佔了中國入口額的42.2%，香港轉口貿易地位的重要性不言而喻。隨著中國與其他國家的貿易額與日俱增，香港的轉口貿易額亦大大受惠。在1940年時，香港進出口貿易額達137,450萬港元，轉口中國與其他國家的貨品就成為了香港的經濟支柱。可見，中國與外國的貿易是香港發展轉口貿易的契機，令香港由開埠前的小漁村演變成蓬勃的轉口港。
於1952年至1970年代末期間，中國因素是導致香港轉口貿易衰落及轉型至工業發展的要因。
就導致香港轉口貿易一蹶不振而言，中國因素起了關鍵性的作用。於1950年韓戰爆發後，中國派兵參與韓戰「抗美援朝」，結果遭受聯合國的經濟制裁，於1952年對華實施「禁運」。受到「禁運」的影響，香港與中國的貿易額一落千丈，同時「走私」貨品到中國的行為也被視成是支持中國共產黨的行為而被港英政府極力打壓，結果導致了依賴中國貿易的香港轉口貿易受到重大的打擊。於1938年時，香港與中國的貿易佔了香港貿易總額達40%，然而至1952年禁運實施後隨即跌至只有20%。而且，1952年香港總出口數字更劇跌了28.2%，反映中國被禁運對香港轉口貿易造成了沉重的打擊。至1978年時，香港出口到中國的貿易額只佔了香港總出口額的0.2%。可見，中國被禁運無疑令到香港轉口貿易受到直接的牽連，令到依靠轉口中國與外國貨品的香港經濟式微。
然而，中國因素對於推動香港於同期轉型至工業發展也起了舉足輕重的作用。在中國移民潮方面，由於中共於1949年建國，大量的資產家恐懼資產會受到共產黨的剝削而南逃到港，他們帶來了知識、技術及資金，並且在港設廠生產，推動了香港工業的發展，是香港工業得以發展的重要因素。同時，到港的不單單是資產家，大量難民也湧到香港，為香港工業提供了重要的勞動人口，貢獻香港的工業發展，有助香港經濟於1950年代轉型至輕工業。在1959年，香港產品在出口貿易的比重中己經佔了70%，大大超過了轉口貨品的比重，香港成為了工業城市。在中國政策方面，中共於1960年明確提出了對港澳地區實行「長期打算，充分運用」的方針，出口一些廉價的原材料及日常生活用品予香港，包括於1965年供東江水到港，解決了香港缺水的問題，有助穩定及推動香港的工業發展。可見，中國提供了重要的誘因有助香港發展工業，轉型至工業城市。
於1970年代末起，中國因素是驅使香港工業發展開始衰落及轉型至多元經濟發展的要因。
就導致香港工業走向式微而言，中國廉價的生產成本吸引了香港工廠北移。中國於1978年推行改革開放，廉價的土地、勞動力、原材料成本，加上稅務優惠等經濟誘因的吸引下，香港工廠開始北移，尤其是將工廠設置在珠三角地區，令兩地建立起獨具特色的「前鋪後廠」模式。香港作為企業的總部，負責市場銷售、品牌推廣等的「前鋪」工作，而珠三角的「後廠」則負責人產品設計與製造、包裝等生產工作。隨著往後中國進一步開放內陸及西北部地區，更多的香港工廠也漸隨生產成本的降低而遷移，製造業在香港經濟中的重要性愈趨次要。在1984年時，製造業佔本地生產總值的比重已經只有24.1%，至1997年更進一步跌至約5%。同時，香港製造業機構單位數目也由1984年的50,033家縮減至2000年的24,925家，跌幅達一半。可見，中國改革開放使香港工廠北移，香港工業同步走向式微。
然而，中國因素同時推動了香港其他行業的發展，走向多元經濟的模式。在轉口貿易方面，過往香港的轉口港地區隨中國被聯合國「禁運」而一蹶不振，但隨著1978年中國推行改革開放，重新與其他國家進行貿易，香港再次擔當起貨物中轉站的角色，轉口貿易再見起色，轉口貨品在佔香港整體出口貨品的百分比由1977年的21.9%跳升至1987年的48.4%，再躍升至1997年的85.5%，可見香港已經再次成為一個轉口港。在金融業方面，改革開放後的中國視香港為重要的金融市場，令投資者能夠經過香港股票市場以發掘內地市場的潛力。在1984年起，中資企業開始注資到香港的上市公司，隨後逐步通過收購香港公司而達到上市的目的。至1990年代起，內地公司在香港更是異軍突起，紅籌股(在香港上市、內地境外註冊成立，並由內地政府機構控制的公司)在1997年時已多達63家，市值達3,897億港元。在大量內地企業來港上市集資的情況底下，香港的金融業發展得極其蓬勃，金融業已經佔了本地生產總值的超過20%(1997年)。可見，中國改革開放同時推動了香港的轉口貿易及金融業發展，令經濟發展走向多元。
總括而言，香港與中國有著密不可分的關係，香港經濟的發展一直伴隨著中國的情況而不斷轉型，中國因素扮演了極為重要的角色，塑造出不同時期的香港經濟發展。
How did the China factor affect the economic development of Hong Kong? Explain your view with reference to the history during British rule up to 1997.
Due to Hong Kong’s close proximity to China, its economy has always been greatly affected by the developments in China. There were in general three major economic transitions for Hong Kong under British rule, namely the development of entrepot trade before 1952, industrial development from the 1950s to 70s, and the transition to a diversified economy that prevails until now. During these transitions, the China factor played a decisive role that will be examined in this essay.
Before 1952, the trade ties between China and the rest of the world were the main reason that Hong Kong was able to develop entrepot trade. Before the inception of Hong Kong as a port in 1841, the city used to be a small fishing village. However, after taking over Hong Kong, Britain took advantage of the city’s favourable geographical location connecting China with other regions and developed Hong Kong into a vibrant entrepot. Since then, Hong Kong had become the southern gate南大門 of China for foreign merchant ships to enter the Chinese market and an important intermediary for Chinese businesses to trade pottery, tea, textile and other goods with foreign countries. In 1900, goods from Hong Kong accounted for 42.2% of China’s total imports, showing the importance of Hong Kong as an entrepot. With the ever-increasing trade activities between China and the rest of the world, Hong Kong’s re-export trade was also benefited from it. In 1940, Hong Kong’s re-exports amounted to HK$1,374,500,000 and became a pillar of the city’s economy. It was clear that the trade ties between China and the rest of the world were a window of opportunity for Hong Kong to develop its re-export trade and transform from a small fishing village to a vibrant entrepot.
From 1952 to the late 1970s, the China factor was the main reason for the fall of Hong Kong’s entrepot trade and its transition to industrial development.
As for the fall of Hong Kong’s re-export trade, the China factor played a key role. After the outbreak of the Korean War in 1950, China participated in the war to ‘resist US aggression and aid Korea抗美援朝’. As a consequence, China was sanctioned by the United Nations and an embargo禁運 was imposed on China in 1952. With the embargo in place, Hong Kong’s trade with China plunged and smuggling走私 was particularly cracked down by the British Hong Kong government as it was regarded as supporting the CCP. This stroke a huge blow to Hong Kong’s re-export trade that relied heavily on China. Hong Kong’s trade with China used to account for more than 40% of Hong Kong’s total trade in 1938, but the figure dropped to as little as 20% in 1952 after the embargo took effect and there was also a drastic decrease of 28.2% in Hong Kong’s total exports. These represented the huge impact of the embargo on China on Hong Kong’s re-export trade. In 1978, Hong Kong’s exports to China only amounted to 0.2% of its total exports. It was clear that the embargo on China had direct impact on Hong Kong’s re-export trade and led to the end of Hong Kong’s reliance on re-export trade to China and foreign goods.
However, the China factor also played a pivotal role in facilitating Hong Kong’s industrial transformation. In terms of immigration移民潮 from China, many capitalists資產家 feared that their assets would be seized and thus escaped to Hong Kong after the establishment of the People’s Republic of China in 1949. Bringing in knowledge, expertise and capital, they set up factories in Hong Kong and were a key factor contributing to the city’s industrial development. Besides capitalists, there was also an influx of refugees難民 into Hong Kong providing labor force that was essential to Hong Kong’s industrial development and facilitated its transformation into a light industry-oriented economy in the 1950s. In 1959, local products accounted for 70% of Hong Kong’s exports and that greatly exceeded the share of re-exported goods, indicating that Hong Kong indeed became an industrial city. In terms of China’s policy, the CCP clearly stated its policy of ‘long-term arrangement and full utilization長期打算，充分運用’ towards Hong Kong and Macau in 1960 and had since then exported cheap raw materials and daily necessities to Hong Kong, including the supply of Dongjiang water東江水 starting from 1965 that solved the city’s water shortage. Such policy supported and promoted Hong Kong’s industrial development. It was clear that China provided important contributory factors to Hong Kong’s industrial development and transformation into an industrial city.
Starting from the late 1970s, the China factor was the main reason for the fall of Hong Kong’s industries and its economic diversification.
As for the fall of Hong Kong’s industries, China’s low production costs facilitated the northward movement of manufacturing industries from Hong Kong. After the implementation of the Reform and Opening Up policy改革開放 in 1978, the low costs of land, labor and raw materials, together with tax incentives and other preferential policies, attracted factories in Hong Kong to relocate in the mainland, particularly the Pearl River Delta Region珠三角地區. This trend gave rise to a unique business model of ‘store in the front, factory in the back前鋪後廠’, in which Hong Kong hosted headquarters of companies and did ‘shopfront’ work such as marketing and brand promotion, while the Pearl River Delta Region hosted ‘factories’ performing production work such as product design, production and packaging. As China continued to open up its inland and Northwest areas, even more Hong Kong factories opted for relocation for lower production costs and industries became increasingly insignificant to Hong Kong’s economy. In 1984, manufacturing industries contributed only 24.1% of Hong Kong’s GDP and the figure further decreased to 5% in 1997. Also, the number of manufacturing establishments dropped from 50,033 in 1984 to 24,925 in 2000, showing a whooping half-fold change. It was clear that the Chinese Reform and Opening Up policy led to the northward movement of manufacturing industries and the fall of Hong Kong’s industries.
However, the China factor also promoted the development of other sectors and contributed to a diversified economy. In terms of entrepot trade, Hong Kong’s role as entrepot used to be undermined by the UN embargo on China but the mainland resumed its trade with the rest of the world after implementing its Reform and Opening Up policy in 1978. Hong Kong was thus able to act as an entrepot again and its re-export trades showed signs of improvement. The percentage of re-exported goods in Hong Kong’s total exports of goods increased from 21.9% in 1977 to 48.4% in 1987 and even skyrocketed to 85.5% in 1997, showing that Hong Kong became an entrepot again. As for the financial sector, China after Reform and Opening Up regarded Hong Kong as an important financial market that allowed investors to explore China’s potential through the city’s stock market. Since 1984, Mainland-owned enterprises started contributing capital to listed companies in Hong Kong and made acquisitions for the sake of becoming listed. In the 1990s, Chinese companies experienced a meteoric rise and there were as many as 63 red chip companies紅籌股(listed in Hong Kong, incorporated outside mainland China and controlled by Chinese government institutions) in 1997 with a total market value of HK$389.7 billion. With a huge number of Chinese enterprises going listed and raising capital in Hong Kong, the city’s financial sector underwent rapid development and contributed more than 20% of Hong Kong’s GDP in 1997. It was clear that China’s Reform and Opening Up also facilitated Hong Kong’s entrepot trade, financial development and eventually its economic diversification.
In conclusion, Hong Kong has had inseparable ties with mainland China and its economic development underwent several transformations under the influence of the developments in China. The China factor therefore played a very important role in shaping Hong Kong’s economic development during different periods.
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