Ch1.2 HK economic development

when did HK become a free port?

since 1842

What goods did European traders sell through HK to China?

cotton products and opium

What goods did European traders buy from China through HK?

silk, tea, porcelain

How did HK make profits through European traders?

As a middleman in trading

How did the Nam Pak Hongs (business of the Chinese entrepot-trade merchants) flourish?

sold products from China’s coastal provinces to Southeast China

transported rice to provide for rice suppliers in HK and the mainland

Why was the existence of a good harbour important? (the Victoria Harbour)

it is deep and wide enough to accommodate big ships or vessels

a lot of modern ship-repairing companies for merchant ships

Why did the facilities in Victoria Harbour attract many foreign ships?

for supplies (like food and water) and repairs before sailing to other coastal areas

the deep-water harbour in HK does not freeze throughout the year which allows ships to anchor

What are the characteristics of HK as a favourable geographical location?

lies in Southern China

ideally located in the Asia-Pacific region

sat on the route for foreign goods entering the China market

became a middle point for the flow of goods from China and Southeast Asia and the rest of the world