Place Debt Collection Hong Kong
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Economy Overview:
Hong Kong has a free market, entrepot economy, highly dependent on
international trade. Natural resources are limited, and food and raw
materials must be imported. Gross imports and exports (i.e., including
reexports to and from third countries) each exceed GDP in dollar value.
Even before Hong Kong reverted to Chinese administration on 1 July 1997,
it had extensive trade and investment ties with China. Hong Kong has
been further integrating its economy with China because China's growing
openness to the world economy has made manufacturing in China much more
cost effective. Hong Kong's reexport business to and from China is a
major driver of growth. Per capita GDP is comparable to that of the four
big economies of Western Europe. GDP growth averaged a strong 5% from
1989 to 2005, but Hong Kong suffered two recessions in the past eight
years because of the Asian financial crisis in 1997-1998 and the global
downturn in 2001-2002. Although the Severe Acute Respiratory Syndrome (SARS)
outbreak in 2003 also battered Hong Kong's economy, a solid rise in
exports, a boom in tourism from the mainland because of China's easing
of travel restrictions, and a return of consumer confidence resulted in
the resumption of strong growth from late 2003 through 2005
Requirements:
- Instructions / authority to proceed with negotiated settlement on the company letterhead.
- Full details of the debtor/s and a summary of how the debt was incurred.
- The amount owing, and the particulars of how it is arrived at.
- Other supportive documentation such as invoice, bill of lading etc.
- Copy of demands made by your company for payment, and copy of any correspondence from the debtor/s that is held on file.
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