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by Ma Kai Ning (2001707564)
Introduction
Among the maps shown in the map analysis area, we can observe that
overall industrial distribution in Hong Kong can be quite clearly identified,
which means that the residential, commercial, and industrial districts
are clearly distributed within the territory.
We can see different characteristics among different industry sectors. In this analysis, I will roughly talk about the employment situation in Hong Kong throughout the year 1999 to 2001. I will choose particularly the financial and business service in Hong Kong as a major concern.
Financial and Business Services in Hong Kong
We know that financial and business services are the most important
industry sector in HK. It occupies over 18% of total workforce in the territory
and it is the most matured and developed industry as HK is the financial
centre in the Southeast Asia.
Figure 1 People engaed for the Finance and Business Services from Jun 1999 to Dec 2001
Figure 1 shows the trend of the financial and business services from June 1999 to December 2001; from the figure, we can observe a generally upward trend for the number of people working in the financial and business services. We can see that, only a slightly drop in early 2001 as the overall employment rate in HK is not satisfactory during this entire period (refer to figure 2).
We can acknowledge from the news stations that, the rate of unemployment
rises continuously in recent few quarters, especially, in the late 2000
and early 2001. But generally, we can predict that HK will continue to
build up her importance and influence in the region and continue be one
of the most influential cities in the world in terms of financial and business
services.
Figure 4 People engaged for Finance and Business Services
in Yau Tsim Mong
Industrial Change in Yau Tsim Mong
Compare figure 3 and 4, we can see the people engaged for the trades
in Yau Tsim Mong (YTM) is declining within the period from June 1999 to
December 2001, while there are obvious increase for the financial and business
services in YTM withn this period.
We know that Yau Tsim Mong is the most condensed district in HK, which consists of a rather wide range of industrial and commercial activities, including trades, finance, restaurants and hotel industry. For the financial and business services, from figure 5, we can see that YTM occupies about 12% of the total people employed compared to Central and Western district's 36%. From the analysis stated at the beginning of this article, we know that Central is the CBD of HK, which is the most condensed district with financial and business services.
But we can observe that commercial activities as well as the transportation in Central and Western district is already saturated, as the government wants to expand the financial centre to another district, the optimum choice is Yau Tsim Mong. As YTM is the closest district to Central. Also, in terms of the infrastructures planned to develop, YTM will be the main core of the exchange of the whole development scheme, including the extension of KCR West Rail and Western Kowloon Development Scheme, we can see that HKSAR government trying to displace the Central Business District from Central widely extended to Southern YTM. Furthermore, the rent of Central is pretty very high compare to YTM, and that's another reason the shifting of CBD from Central to YTM.
Compare figure 5 and figure 6, we can see that the industrial shares of financial and business services in Central district decrease about 2% within the time of June 1999 to June 2001, while YTM rises about 1%, with the number over 6,000 employment rises.
Figure 5 Employment Distribution of Financial and Business
Services with selected districts in June 1999
Figure 6 Employment Distribution of Financial
and Business Services with selected districts in June 2001
Conclusion
In overall, I have chosen the trades and financial service as the industry
sectors to be discussed, which are two of the most major industrial industries
in HK. As the economy of HK is much more rely on these two industries,
those two sectors share the similar importance to HK.
Concerning with the evidence of shifting the CBD from Central to YTM, I think that is an important trend in terms of the economic development in HK, as HK needs to continue increasing her importance and economical influence in the east Asia, the expand and shifting of CBD is necessary and important.