The rapid roll-out of vaccines in developed countries led to a gradual lifting of restrictions on economic activity and to a resumption of investment and consumption with far fewer bankruptcies than expected, although at the cost – consciously incurred – of a one-off increase in public debt. Many advanced countries have now reached, or are close to reaching, pre-crisis output levels.
As a major international financial center around the world, Hong Kong boasts a highly open business environment, a profound financial market system, perfect financial infrastructures, and an international regulatory system for financial markets.