Hong Kong

     

Hong Kong (香港; "Fragrant Harbour"), officially Hong Kong Special Administrative Region of the People's Republic of China, is an autonomous territory on the southern coast of China at the Pearl River Estuary and the South China Sea. Hong Kong is known for its skyline and deep natural harbour. It has an area of 1104 km² and shares its northern border with theGuangdong Province of Mainland China. With around 7.2 million Hongkongers of various nationalities, Hong Kong is one of the world's most densely populated metropolises.

After the First Opium War (1839–42), Hong Kong became a British colony with the perpetual cession of Hong Kong Island, followed by Kowloon Peninsula in 1860 and a 99-year lease of the New Territories from 1898. Hong Kong remained under British control for about a century until the Second World War, when Japan occupied the colony from December 1941 to August 1945. After the Japanese surrender the British resumed control until 30 June 1997. As a result of negotiations between China and Britain, Hong Kong was transferred to the People's Republic of China under the 1984 Sino-British Joint Declaration. The territory became a special administrative region of China with a high degree of autonomy on 1 July 1997 under the principle of one country, two systems. Disputes over the perceived misapplication of this principle have contributed to popular protests, including the 2014 Umbrella Revolution.

  

In the late 1970s, Hong Kong became a major entrepôt in Asia-Pacific. The territory has developed into a major global trade hub and financial centre, and is regarded as a world city. The 45th-largest economy in the world, Hong Kong ranks top 10 inGDP (PPP) per capita, but also has the most severe income inequality among advanced economies. Hong Kong is one of thethree most important financial centres alongside New York and London. The territory has a high Human Development Indexand is ranked highly in the Global Competitiveness Report.It has been named the freest market economy by the Heritage Foundation Index of Economic Freedom. The service economy, characterised by free trade and low taxation, has been regarded as one of the world's most laissez-faire economic policies, and the currency, the Hong Kong dollar, is the 13th most traded currency in the world.Hong Kong is a member of APEC, ADB, IMF, BIS, WTO, FIFA, and International Olympic Committee, as Hong Kong Basic Law authorizes the territory to develop relations with foreign states on its own in appropriate fields, including the economic, trade, financial and monetary, shipping, communications, tourism, cultural and sports fields.

Limited land created a dense infrastructure and the territory became a centre of modern architecture, and one of the world's most vertical cities. Hong Kong has a highly developed public transportation network covering 90 per cent of the population, the highest in the world, and relies on mass transit by road or rail. Air pollution remains a serious problem.Loose emissions standards have resulted in a high level of atmospheric particulates. Nevertheless, Hongkongers enjoy the world's longest or second longest life expectancies.