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Hong Kong[note is one of two special administrative regions (SARs) of the People's Republic of China (PRC), the other being Macau. 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 in 1860 and then the New Territories in 1898. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea. it is known for its expansive skyline and deep natural harbour. With a 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.
Under the principle of "one country, two systems", Hong Kong has a different political system from mainland China. Hong Kong's independent judiciary functions under the common law framework. Hong Kong's population is 95 percent ethnic Chinese and 5 percent from other groups. Hong Kong's Han Chinese majority originate mainly from the cities of Guangzhou and Taishan in the neighbouring Guangdong province. As one of the world's leading international financial centres, Hong Kong has a major capitalist service economy characterised by low taxation and free trade, and the currency, Hong Kong dollar, is the eighth most traded currency in the world.
Business and Economy
Hong Kong is one of the world's leading international financial centres, Hong Kong has a major capitalist service economy characterised by low taxation and free trade. The currency (Hong Kong dollar) is the eighth most traded currency in the world as of 2010. Hong Kong's currency is the Hong Kong dollar, which has been pegged to the U.S. dollar since 1983. Hong Kong was once described by Milton Friedman as the world’s greatest experiment in laissez-faire capitalism. The Hong Kong Stock Exchange is the seventh largest in the world, with a market capitalisation of US$2.3 trillion as of December 2009
The Hong Kong Government has traditionally played a mostly passive role in the economy, with little by way of industrial policy and almost no import or export controls. Hong Kong maintains a highly developed capitalist economy, ranked the freest in the world by the Index of Economic Freedom every year since 1995. Hong Kong is an important centre for international finance and trade, with one of the greatest concentrations of corporate headquarters in the Asia-Pacific region and is known as one of the Four Asian Tigers for its high growth rates and rapid development from the 1960s to the 1990s. Between 1961 and 1997 Hong Kong's gross domestic product grew 180 times while per-capita GDP increased 87 times over.
These are major cities of Hong Kong. Cities like Victoria City, Kowloon, New Kowloon, Northern Hong Kong Island, Tsuen Wan New Town, Sha Tin New Town, Tuen Mun New Town, Tseung Kwan O New Town, Aberdeen, Tai Po New Town, Tin Shui Wai New Town, Fanling-Sheung Shui New Town, Yuen Long New Town, North Lantau, New Town.
Official language - Chinese, English
Total 1,104 km2 (179th) 426 sq mi
Water (%) 4.58 (50 km²; 19 mi²)
2010 census 7,061,200
Density 6,480/km2 (4th) 16,576/sq mi
GDP (PPP) 2011 estimate
Total $351.119 billion
Per capita $49,137
GDP (nominal) 2011 estimate
Total $243.302 billion
Per capita $34,049
Gini (2007) 43.4
HDI (2011) increase 0.898
Currency - Hong Kong dollar (HKD)