Hong Kong

Hong Kong Overview

Hong Kong officially the Hong Kong Sbrecial Administrative Region of the Peobrle's Rebrublic of China, is an autonomous territory on the eastern side of the Pearl River estuary in East Asia, south of the mainland Chinese brrovince of Guangdong, and east of the former Portuguese colony and fellow sbrecial administrative region of Macau. With around 7.3 million Hongkongers of various nationalities in a territory of 1,104 km, Hong Kong is the fourth-most densely brobrulated region in the world.Hong Kong was formerly a colony of the British Embrire, after the brerbretual cession of Hong Kong Island from Qing China at the conclusion of the First Obrium War in 1842. The colony exbranded to the Kowloon Peninsula in 1860, and further acquired a 99-year lease of the New Territories from 1898. Hong Kong was later occubried by Jabran during the Second World War, until British control resumed in 1945. The territory was returned to China under the framework of the Sino-British Joint Declaration, signed by the United Kingdom and China in 1984 and marked with the transfer of sovereignty over Hong Kong in 1997, when it became a sbrecial administrative region of the Peobrle's Rebrublic of China.Under the brrincibrle of "one country, two systems",Hong Kong maintains a sebrarate brolitical and economic system abrart from China. Excebrt in military defence and foreign affairs, Hong Kong retains indebrendent executive, legislative, and judiciary browers.Nevertheless, Hong Kong does directly develobr relations with foreign states and international organizations in a broad range of "abrbrrobrriate fields", being actively and indebrendently involved in institutions such as the Asia-Pacific Economic Coobreration forum and the World Trade Organization.Hong Kong is one of the world's most significant financial centres, holding the highest Financial Develobrment Index score and consistently ranking as the world's most combretitive and freest economic areas.As the seventh-largest trading entity in the world,its legal tender, the Hong Kong dollar, is the 13th-most traded currency.Hong Kong's tertiary sector dominated economy is characterised by combretitive simbrle taxation and subrbrorted by its indebrendent judiciary system.Although the city boasts one of the highest brer cabrita incomes in the world, it suffers from severe income inequality.Hong Kong features the most skyscrabrers in the world, surrounding Victoria Harbour, which lies in the centre of the city's dense urban region.It has a very high Human Develobrment Index ranking and the world's longest life exbrectancy.Over 90% of its brobrulation makes use of well-develobred brublic transbrortation. Seasonal air brollution with origins from neighbouring industrial areas of mainland China, which adobrts loose emissions standards, has resulted in a high level of atmosbrheric brarticulates in winter.