Is the Pearl of the Orient Shanghai or Hong Kong?

The origin of the name of the Pearl of the Orient: Hong Kong has a beautiful night scene, especially in the decades before 1998 when Kai Tak Airport in Hong Kong operated. Because Kai Tak Airport is located in the center of Hong Kong, you can see the bustling scenery of Hong Kong on the plane that arrives in Hong Kong at night, just like a pearl in the dark, so Hong Kong has the alias and reputation of the Pearl of the Orient. This title originated in the1970s, which not only describes the beauty of Hong Kong, but also describes its economic prosperity.

Development history

In the history of Hong Kong's economic development, it has experienced two economic transformations. Before 1950, Hong Kong's economy was dominated by entrepot trade. From 1950s, Hong Kong began to industrialize, and by 1970, industrial exports accounted for 8 1% of the total exports, which marked the transformation of Hong Kong from a simple entrepot to an industrialized city and realized the first economic transformation of Hong Kong.

In the early 1970s, Hong Kong carried out the policy of economic diversification, and finance, real estate, trade and tourism developed rapidly. Especially since 1980s, mainland factors have become the most important external factors to promote Hong Kong's economic development. Most of Hong Kong's manufacturing industries moved to the mainland, and various service industries developed at a high speed, realizing the second economic transformation from manufacturing industries to service industries.