Although the territory experienced certainly one of Asia's biggest producing economies in the course of the latter fifty percent in the colonial period, Hong Kong's overall economy has become dominated via the service sector. The sector generates 92.7 for every cent of financial output, with the general public sector accounting for around ten per cent.
Hong Kong has been a Exclusive administrative location of China because 1997, with government, legislative, and judicial powers devolved from the countrywide governing administration.[90] The Sino-British Joint Declaration delivered for economic and administrative continuity from the transfer of sovereignty,[seventy five] causing an govt-led governing program largely inherited with the territory's heritage being a British colony.
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Hong Kong can be a really designed territory and ranks fourth on the UN Human progress Index.[29] The city also has the biggest number of skyscrapers of any town on this planet,[30] and its residents have several of the greatest life expectancies on the globe.
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Hong Kong has a highly produced, refined transport community. in excess of 90 per cent of every day trips are created on community transport, the highest share on the planet.
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Chinese national legislation doesn't generally implement during the location and Hong Kong is treated like a individual jurisdiction.[ninety eight] Its judicial method relies on popular regulation, continuing the authorized tradition proven in the course of British rule.[109] area courts may perhaps make reference to precedents set in English regulation and overseas jurisprudence.[a hundred and ten] having said that, interpretative and amending power in excess of The essential Law and jurisdiction above functions of point out lie with the central authority, building regional courts in the long run subordinate on the mainland's socialist civil law procedure.
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The government has had a passive part in the overall economy. Colonial governments had little industrial coverage, and applied almost no trade controls. Under the doctrine of "constructive non-interventionism", write-up-war administrations deliberately avoided the immediate allocation of resources; active intervention was regarded as harmful to financial development.
The Hong Kong Jockey Club, the territory's premier taxpayer,[288] provides a monopoly on gambling and provides in excess of seven for every cent of government earnings.[289] a few types of gambling are authorized in Hong Kong: lotteries and betting on horse racing and football.[288] instruction
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To lessen the trade imbalance, the British sold substantial quantities of Indian opium to China. Faced with a drug disaster, Qing officers pursued ever extra aggressive steps to halt the opium trade.[fifty seven]