[199] The town has the 2nd-best number of company headquarters in the Asia-Pacific location.[200] Hong Kong can be a gateway for overseas direct financial commitment in China, providing investors open up usage of mainland Chinese marketplaces by means of immediate back links While using the Shanghai and Shenzhen inventory exchanges. The territory was the initial sector exterior mainland China for renminbi-denominated bonds, and is without doubt one of the most significant hubs for offshore renminbi trading.[201]
Its populace rebounded immediately after the war as proficient Chinese migrants fled from the Chinese Civil War, and much more refugees crossed the border when the Communist Party took Charge of mainland China in 1949.[64] Hong Kong became the primary from the Four Asian Tiger economies to industrialise throughout the 1950s.[65] With a rapidly rising inhabitants, the colonial government began reforms to boost infrastructure and community products and services.
All travellers amongst Hong Kong and China and Macau must pass border controls, in spite of nationality.[106] Chinese citizens resident in mainland China do not need the appropriate of abode in Hong Kong, and so are subject to immigration controls.[107] Public finances are dealt with individually from the national federal government, and taxes levied in Hong Kong will not fund the central authority.[108][109]
Hong Kong is a special administrative location of China, with govt, legislative, and judicial powers devolved through the nationwide govt.[83] The Sino-British Joint Declaration provided for economic and administrative continuity throughout the transfer of sovereignty,[70] causing an executive-led governing method mainly inherited within the territory's historical past to be a British colony.
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With few pure lakes and rivers, large population density, inaccessible groundwater sources, and intensely seasonal rainfall, the territory doesn't have a reputable source of contemporary drinking water.
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Political debates once the transfer of sovereignty have centred throughout the region's democratic improvement as well as central govt's adherence towards the "a person country, two programs" theory. After reversal of the last colonial-era Legislative Council democratic reforms following the handover,[76] the regional government unsuccessfully tried to enact national-protection legislation pursuant to Posting 23 of The fundamental Law.
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