Even though the territory had one of Asia's most significant manufacturing economies during the latter 50 % from the colonial period, Hong Kong's financial state has become dominated through the services sector. The sector generates ninety two.7 per cent of economic output, with the public sector accounting for around ten for each cent.
Hong Kong has long been a Distinctive administrative location of China because 1997, with government, legislative, and judicial powers devolved from the countrywide govt.[ninety] The Sino-British Joint Declaration provided for economic and administrative continuity in the transfer of sovereignty,[seventy five] causing an govt-led governing system largely inherited in the territory's history being a British colony.
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it's got tiny arable land and handful of purely natural resources, importing most of its food items and Uncooked resources. More than 90 per cent of Hong Kong's foods is imported, which includes nearly all its meat and rice.
The identify from the territory, very first romanised as "He-Ong-Kong" in 1780,[35] originally referred to a small inlet Positioned involving Aberdeen Island and also the southern Coastline of Hong Kong Island. Aberdeen was an initial level of Call among British sailors and native prediksi chelsea fishermen.[36] Even though the source of the romanised title is unidentified, it is usually believed being an early phonetic rendering of your Cantonese pronunciation hēung góng. The title interprets as "fragrant harbour" or "incense harbour".
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Hong Kong provides a really developed, subtle transportation network. Over 90 for every cent of day by day outings are made on general public transport, the best percentage on earth.
Hong Kong represents by itself independently from mainland China, with its own sports groups in Intercontinental competitions.[282] The territory has participated in virtually every summer time Olympics considering that 1952, and has attained three medals.
Chinese countrywide regulation will not frequently apply during the area and Hong Kong is taken care of for a independent jurisdiction.[98] Its judicial technique is predicated on widespread regulation, continuing the lawful custom founded through British rule.[109] Local courts might make reference to precedents set in English legislation and overseas jurisprudence.[one hundred ten] having said that, interpretative and amending electricity over The essential legislation and jurisdiction about acts of condition lie Using the central authority, building regional courts in the long run subordinate for the mainland's socialist civil law method.
The territory's jurisdictional independence is most evident in its immigration and taxation guidelines. The Immigration Office problems passports for long-lasting inhabitants which differ from Individuals from the mainland or Macau,[114] and the area maintains a regulated border with the remainder of the place.
Originally a sparsely populated spot of farming and fishing villages,[sixteen] the territory is becoming on the list of planet's most vital financial centres and professional ports.[21] it can be the earth's tenth-major exporter and ninth-greatest importer.[22][23] Hong Kong has A significant capitalist services economic climate characterised by reduced taxation and absolutely free trade, and its forex, the Hong Kong dollar, would be the eighth most traded currency on the globe.
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[33][34][37] "Fragrant" might consult with the sweet flavor of your harbour's freshwater inflow from your Pearl River or to the odour from incense factories lining the Coastline of northern Kowloon. The incense was saved in the vicinity of Aberdeen Harbour for export prior to Victoria Harbour produced.[37] Sir John Davis (the next colonial governor) presented an alternate origin; Davis claimed the name derived from "Hoong-keang" ("pink torrent"), reflecting the colour of soil in excess of which a waterfall over the island flowed.[38]