1950s in Hong Kong

Hong Kong's population recovered quickly as a wave of migrants from China arrived for refuge from the ongoing Chinese Civil War. When the People's Republic of China was proclaimed in 1949, more migrants fled to Hong Kong for fear of persecution by the Communist Party.[41] Many corporations in Shanghai and Guangzhou shifted their operations to Hong Kong.[41]

In the 1950s, Hong Kong's rapid industrialisation was driven by exports: Textile and other manufacturing industries expanded as the population grew and labour costs remained low; living standards rose steadily.[45] The construction of Shek Kip Mei Estate in 1953 followed a massive slum fire, and marked the beginning of the public housing estate programme designed to cope with the huge influx of immigrants. Trade in Hong Kong accelerated even further when Shenzhen, immediately north of Hong Kong, became a special economic zone of the PRC, and Hong Kong was established as the main source of foreign investment to China.[46] With the development of the manufacturing industry in southern China beginning in the early 1980s, Hong Kong's competitiveness in manufacturing declined and its economy began shifting toward a reliance on the service industry, which enjoyed high rates of growth in the 1980s and 1990s, and absorbed workers released from the manufacturing industry

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