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About Hong Kong
Hong Kong, known officially as the Hong Kong Special Administrative Region of the People's Republic of China, is one of two SARs (the other being Macau). Hong Kong was founded as a port by European traders in 1842. The state remained in an English colony until its transfer back to the PRC in 1997. In those years, Hong Kong's free market economy surged ahead of its neighbours. As a SAR, Hong Kong enjoys a wide measure of self-governance under the ruling party's "One Country, Two Systems" policy. Hong Kong has its own political and legal systems, currency as well as flag and emblem. Many people do not associate HK as part of China, and choose to view HK as an independant entity.Today, Hong Kong is well known as the financial hub of the east as well as a gateway for foreigners to enter the European market. Many companies from the mainland aim to get listed on the Hong Kong Stock Exchange (HKSE).
Geography
Hong Kong's physical land mass consists of a group of islands at the southern tip of Guangdong, China. Measuring up to a little over 1,110 sq km, it is the 179th largest country in the world. It is connected by land to the city of Shenzhen. The Hong Kong skyline often featured in tourism advertisements is that of Hong Kong island itself. However, much of the terrain of the island is quite mountainous. A substantial portion of Hong Kong city is built on slopes.
The New Territories and Hong Kong Island makeup the population centers of Hong Kong.
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Economy
According to the Heritage Foundation, Hong Kong has an impressive record of openness to global trade and investment. Despite a lack of natural resources, the economy's institutional strengths have allowed it to achieve high levels of prosperity reinforced by vibrant entrepreneurial activity. The small island is one of the world's leading financial centers, and regulation of banking and financial services is transparent and efficient. Income and corporate tax rates are very competitive, and overall taxation is relatively small as a percentage of GDP. Business regulation is straightforward, and the labor market is flexible. Property rights are well protected by an independent and corruption-free judiciary. It is not surprising that a large number of start-ups and businesses register their companies in Hong Kong to benefit from its liberal policies. Meanwhile, its proximity to China means that they are able to tap into a massive market brimming with potential.
Population
At the end of 2008, Hong Kong's population passed the 7 million mark, making it the third densest population on the globe at 6054.5 persons/sqkm. The current statistics provided by the Hong Kong Census and Statistics Dept indicate that Hong Kong is currently experiencing a graying population. Generally speaking, the female population of Hong Kong outnumbers the male population slightly by about 300,000. However, a surge in male births in the last 20 years may help to even out the balance in the near future.
Transportation
Transportation in Hong Kong consists of both land and sea transport networks. Roads on Hong Kong island are generally wide, except for those on Hong Kong island which is quite mountainous. A mass rapid transit system (MTR) connects Hong Kong International Airport, located on Lantau Island,. to over 150 other MTR stations across Hong Kong island and the New Territories, serving up to some 3.5 million people a day. Besides the MTR, there are also bus and taxi transport services available.
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Zubaidah |
Latest page update: made by Zubaidah
, Apr 10 2009, 3:29 PM EDT
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