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Hong Kong is one of the two special
administrative regions of the People's Republic of China; the other is
Macau. Situated on China's south coast and enclosed by the Pearl River
Delta and South China Sea, it is renowned for its expansive skyline and
deep natural harbour. With land mass of 1,104 km2 (426 sq mi) and a
population of seven million people, Hong Kong is one of the most densely
populated areas in the world. Hong Kong's population is 95% ethnic
Chinese and 5% from other groups. Hong Kong's Han majority originate
mainly from Guangzhou and Taishan, both cities in neighbouring Guangdong
province.
Under the principle of "one country, two systems", Hong Kong runs on
economic and political systems different from those of mainland China.
Hong Kong is one of the world's leading international financial centres,
with a major capitalist service economy characterised by low taxation,
free trade and minimum government intervention under the ethos of
positive non-interventionism. The Hong Kong dollar is the 9th most
traded currency in the world.
Hong Kong's independent judiciary functions under the common law
framework. Its political system is governed by the Basic Law of Hong
Kong, its constitutional document. Although it has a burgeoning
multi-party system, half of its legislature is controlled by
small-circle electorate. The Chief Executive of Hong Kong, the head of
government, is selected by a 800-person election committee.
Hong Kong became a colony of the British Empire after the First Opium
War (1839–42). Originally confined to Hong Kong Island, the colony's
boundaries were extended in stages to the Kowloon Peninsula and the New
Territories by 1898. It was occupied by Japan during the Pacific War,
after which the British resumed control until 1997, when China regained
sovereignty. The Basic Law stipulates that Hong Kong shall enjoy a "high
degree of autonomy" in all matters except foreign relations and military
defense. |
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