About Hong Kong

General Information

Hong Kong is an autonomous territory, and former British colony, in southeastern China. Its vibrant, densely populated urban Centre is a major port and global financial hub with a skyscraper-studded skyline. Central (the business district) features architectural landmarks like I.M. Pei’s Bank of China Tower. Hong Kong is also a major shopping destination, famed for bespoke tailors and Temple Street Night Market.

Population

The territory’s population in mid-2015 is 7.30 million, with an average annual growth rate of 0.8% over the previous 5 years.

Political Structure

Hong Kong’s current structure of governance inherits from the British model of colonial administration set up in the 1850s. The 1984 Sino-British Joint Declaration states that “Hong Kong should enjoy a high degree of autonomy in all areas except defense and foreign affairs” with reference to the underlying principle of one country, two systems.

Infrastructure and Economy

Hong Kong has excellent communication facilities. From 2001 to 2012, Hong Kong International Airport achieved the top-3 and it continued to be highly regarded among passengers in annual survey by Skytrax, a London-based air transport research organization, as one of the World’s Best Airports. Hong Kong has been ranked first in terms of economic freedom for 18 consecutive years (1995 – 2012) by the Heritage Foundation of its Economic Freedom study. Solid external net assets held by banks and deposit-taking institutions make Hong Kong one of the largest banking centers in the world.

Language

The official languages are English and Chinese, with English being used in the commercial and political context and Cantonese Chinese used widely in industry and domestic trade.

Currency

The Hong Kong Dollar, which is officially pegged to the US Dollar. (approx. 1US$ = HK$7.74 to HK$7.68).

Exchange Control

There are no foreign exchange controls in Hong Kong.