Its location in respect to the trading day made it the center of world trading while London and New York City sleep. It is also the gateway for trade with the most populous nation on Earth. China depends on the territory to provide the bulk of its foreign exchange and investment. Hong Kong has no substantial natural resources, and 90 percent of what it needs is imported. Much of its income is from services it provides as a transshipment and warehousing gateway between China and Southeast Asia and the rest of the world.
Manufacturing is led by the textile industry, followed by toys and electronics.
Hong Kong exports more watches, clocks, and radios than any nation in the world. China and the United States are its major customers. Despite the strength of the manufacturing base, the service sector of the economy is larger than the industrial sector and provides three quarters of the jobs. Hong Kong is the shopping, dining, fashion, and entertainment mecca of Asia. It is the movie capital of the world, with more feature films and videos produced in the territory than anywhere else.