Background
Economically, this era is considered a major stepping stone for Hong Kong. It is considered the first turning point for Hong Kong's economy. The per capita GDP was still relatively low in 1960. It was approximately the same as Peru, South Africa and Greece in the same decade. By comparison, Argentina had two times and Venezuela had three times the GDP of Hong Kong. The living standard was rising steadily, but low wages continued. The number of registered factories increased from 3,000 in 1950s to 10,000 in 1960s. Registered foreign companies increased from 300 to 500. There were demands for labour in every sector of the economy.
Politically, however, this era is marked by the political chaos in mainland China.
Read more about this topic: 1960s In Hong Kong
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