世界发展银行-Economy-Profile-of-Hong-Kong-SAR,-China_67页_1mb

Hong Kong SAR, China - Doing Business Report Summary (2020)

Core Content Overview

The Doing Business report provides an objective assessment of business regulations and their enforcement in 190 economies and selected cities. It focuses on key areas that affect the ease of doing business, including starting a business, construction permits, getting electricity, property registration, credit access, minority investor protection, tax compliance, cross-border trade, contract enforcement, and insolvency resolution. The report aims to encourage regulatory reforms, offer measurable benchmarks, and serve as a resource for understanding the business climate.

Key Indicators and Performance

Starting a Business

• Rank: 5
• Score: 98.2
• Procedures: 2
• Time: 1.5 days
• Cost: 0.5% of income per capita
• Paid-in Minimum Capital: 0.0% of income per capita
• Note: Hong Kong has one of the easiest processes for starting a business. The procedures are minimal, and the time and cost are significantly low. The process is fully online, which enhances efficiency.

Dealing with Construction Permits

• Rank: 1
• Score: 93.5
• Procedures: 8
• Time: 69 days
• Cost: 0.3% of warehouse value
• Building Quality Control Index: 15.0
• Note: Hong Kong leads in this area, with a streamlined process and strong quality control and safety mechanisms. The One Stop Center simplifies the process by coordinating multiple approvals.

Getting Electricity

• Rank: 3
• Score: 99.3
• Procedures: 3
• Time: 24 days
• Cost: 1.3% of income per capita
• Reliability of Supply and Transparency of Tariff Index: 8
• Note: The process for getting electricity is efficient, with high reliability and transparency. The cost is low, and the procedures are straightforward.

Registering Property

• Rank: 51
• Score: 73.6
• Procedures: 5
• Time: 27.5 days
• Cost: 7.7% of property value
• Quality of Land Administration Index: 27.5
• Note: The process is moderate, with a reasonable number of procedures and a fair cost. The land administration system is rated as somewhat efficient.

Getting Credit

• Rank: 37
• Score: 75.0
• Legal Rights Index: 8
• Credit Registry Coverage: 0.0%
• Credit Bureau Coverage: 100.0%
• Note: Credit access is relatively easy, with strong legal rights. However, credit registry coverage is absent, which could affect transparency and accessibility.

Protecting Minority Investors

• Rank: 7
• Score: 84.0
• Disclosure Index: 10.0
• Director Liability Index: 8.0
• Shareholder Suits Index: 9.0
• Shareholder Rights Index: 5.0
• Note: Hong Kong scores well in protecting minority investors, with comprehensive disclosure and strong shareholder rights.

Paying Taxes

• Rank: 2
• Score: 99.7
• Total Tax and Contribution Rate: 21.9% of profit
• Postfiling Index: 98.9
• Note: Tax compliance is among the easiest in the world. The process is efficient, with minimal time and cost involved.

Trading Across Borders

• Rank: 29
• Score: 95.0
• Export Time: 1 hour (documentary) + 19 hours (border)
• Export Cost: $57 (documentary) + $266 (border)
• Import Time: 1 hour (documentary) + 1 hour (border)
• Import Cost: $12 (documentary) + $0 (border)
• Note: Hong Kong has a highly efficient cross-border trade system, with minimal time and cost for both import and export activities.

Enforcing Contracts

• Rank: 31
• Score: 69.1
• Time: 385 days
• Cost: 23.6% of claim value
• Quality of Judicial Processes Index: 10.0
• Note: Contract enforcement is moderate. The process is lengthy and costly, but the quality of judicial processes is relatively high.

Resolving Insolvency

• Rank: 45
• Score: 65.7
• Recovery Rate: 87.2 cents on the dollar
• Time: 0.8 years
• Cost: 5.0% of estate
• Note: Insolvency resolution is relatively efficient, with a high recovery rate and a moderate time frame.

Summary of Main Points

• Ease of Doing Business: Hong Kong has one of the best regulatory environments, particularly in starting a business, getting electricity, and paying taxes.
• Regulatory Efficiency: The use of online procedures and centralized services (like the One Stop Center) significantly reduces time and cost for business-related tasks.
• Legal Framework: Strong legal protections for minority investors and a robust system for contract enforcement and insolvency resolution.
• Challenges: While the process for getting credit is relatively easy, the lack of a credit registry may limit transparency. Contract enforcement and insolvency resolution could be improved.
• Comparative Performance: Hong Kong performs well compared to other economies in the East Asia & Pacific region and OECD high-income countries, particularly in starting a business and construction permits.

Conclusion

Hong Kong SAR, China, is recognized for its efficient and transparent regulatory environment, especially in areas like starting a business and getting electricity. The report highlights the strengths of the legal and administrative systems but also identifies areas for potential improvement, such as credit information systems and contract enforcement. Overall, Hong Kong remains a favorable location for business operations, with a high score in the Doing Business report.