ENG-2011 — Page 89

The Economy 53

financing and insurance, real estate, professional and business services, 19 per cent; transportation, storage, postal and

postal and courier services, information and communications, 12 per cent (Chart 6).

Chart 5

Transport, storage and

communications

9.0%

Gross Domestic Product by Major Service Sector

1990

Wholesale, retail and import/export trades, restaurants and hotels

23.7%

Transportation, storage, postal and courier services, information and communications

11.3%

2010

Import/export, wholesale and retail trades, accommodation and food services 27.3%

Finance, insurance,

real estate

and business

services

18.9%

Other sectors 18.2%

Other

Community, social and personal services 14.1%

sectors 34.3%

Financing and insurance, real estate, professional and business services 26.4%

Public administration, social and personal services 16.8%

The import/export, wholesale and retail trades, accommodation and food services sector, and the financing and insurance, real estate, professional and business services sector remained the two largest service sectors in terms of net output in 2010.

Note: Due to adoption of the Hong Kong Standard Industrial Classification Version 2.0, the series from 2000 onwards not strictly comparable with those of the earlier years.

The Manufacturing Sector

Hong Kong's manufacturing sector continues to be versatile and resilient in coping with the changing environment. Thanks to the increased manufacturing arrangements in the Mainland, not only has Hong Kong's productive capacity been effectively expanded, its overall productive efficiency and product quality have also seen significant upgrading along with technological advancement and a shift towards production with a more knowledge-based and higher value-added content. It is also worth noting that although the direct value-added contribution of the manufacturing sector to the economy is not large relative to the services sector, its well-established linkages with the Mainland economy have provided ample business opportunities that go hand in hand with the growth of Hong Kong's services sector.

Economic Links between Hong Kong and the Mainland

Since the introduction of the Mainland's open door policy in 1978, the deepening economic integration between the Mainland and Hong Kong has yielded enormous mutual benefits to both places. Over the years, the massive flows of goods, services, people and capital between Hong Kong and the Mainland and between the Mainland and the world through Hong Kong have created remarkable growth in income and employment in both Hong Kong and the Mainland.