About Hong Kong
The Hong Kong Special Administrative Region of the People's Republic of China (Traditional Chinese: 中華人民共和國香港特別行政區; Simplified Chinese: 中华人民共和国香港特别行政区; Cantonese: Heūng góng ▶(?); Mandarin: Xiānggǎng, pronunciation), is a Special Administrative Region of the People's Republic of China (PRC). It is located on the southeastern coast of China.
It is important to note that the English name for Hong Kong is still Hong Kong, and not, as some sources suggest, Xianggang.
Hong Kong (also known as Hongkong, which was common in older texts) has one of the world's most liberal economies and is a major international centre of finance and trade. A former British colony now administered by the PRC under the "one country, two systems" policy, Hong Kong is constitutionally entitled to a relatively high degree of autonomy; for example, it retains its own legal system, currency, customs, treaty negotiating rights, such as air traffic and aircraft landing rights, and immigration laws. Hong Kong even maintains its own road rules, with traffic continuing to drive on the left. Only national defence and diplomatic relations are responsibilities of the central government in Beijing.
Even though Hong Kong has been occupied since the Neolithic Age, the area now known as Hong Kong only began to attract the attention of China and the rest of the world in the 19th century when it was ceded to Britain after the Opium Wars. Hong Kong was first visited by a European in 1513, the Portuguese mariner Jorge Álvares. Álvares began trading with the Chinese, and the Portuguese continued to make periodic trade stops at various locations up and down the coast.
Kowloon Peninsula south of Boundary Street and Stonecutter's Island were ceded to the British in 1860 under the Convention of Peking after the Second Opium War. Various adjacent lands, known as the New Territories (including New Kowloon and Lantau Island), were then leased by Britain for 99 years, beginning on 1 July 1898 and ending on 30 June 1997. Hong Kong became a crown colony in 1843. For the first twenty years there was little contact between the European and Chinese communities. The first specially recruited Hong Kong civil servants to be taught Cantonese were recruited in 1862, markedly improving relations.
Tea, silk, and other Asian luxury goods were introduced in Europe by the Portuguese, and by the mid-18th century, these items were in high demand, particularly tea. The British, challenging China's near monopoly on the tea industry, invaded China, winning the First Opium War in 1841. During the war, Hong Kong Island was first occupied by the British, and was formally ceded by the Qing Dynasty of China in 1842 under the Treaty of Nanking.
Hong Kong entered a dark age during the Japanese Occupation of World War II, which lasted for three years and eight months. Many Hong Kong people were executed by the Japanese army during the war. The Japanese subsequently surrendered on 15 August 1945. The port was quickly re-opened and welcomed a mass migration of Chinese refugees in 1949 from the civil war and the new Communist government in China.
Hong Kong had been a trade port ever since the British occupation, but its position as an entrepot declined greatly after the United Nations ordered a trade embargo against the People's Republic of China as a result of the Korean War. In response, a textile industry was established, taking advantage of the new pool of workers from China who were willing to work for almost any wage. During this period, the economy grew extremely rapidly. Towards the 1970s, Hong Kong began to move away from the textile industry and develop its financial and banking economy. This led to even greater growth, and Hong Kong quickly became one of the wealthiest territories in the world. Its position as an entrepot was restrengthened since the Open Door Policy was adopted in the PRC in the late 1970s under Deng Xiaoping.
In the 1980s, with the lease on the New Territories running out, the British government of Margaret Thatcher decided to negotiate the question of the sovereignty of Hong Kong. Although the British would have been legally required to transfer only the New Territories to the PRC, Whitehall decided that maintaining a rump colony would not be worthwhile - the majority of Hong Kong's land was in the New Territories, and failure to return the entire colony would doubtless have generated political friction between the UK and PRC.
Pursuant to an agreement known as the Sino-British Joint Declaration, signed by the People's Republic of China and the United Kingdom on 19 December 1984, the whole territory of Hong Kong under British colonial rule became the Hong Kong Special Administrative Region of the PRC on 1 July 1997. In the Joint Declaration, the PRC promised that under the "One Country, Two Systems" policy proposed by Deng Xiaoping, the socialist economic system in mainland China would not be practised in Hong Kong, and Hong Kong's previous capitalist system and life-style would remain unchanged for 50 years, or until 2047. Hong Kong would enjoy a high degree of autonomy in all matters except diplomatic affairs and national defence. Hong Kong was transferred to the PRC at the stroke of midnight on 1 July 1997, with the last governor, Chris Patten leaving on the royal yacht. The handover coincided with the large scale collapse of land values in Hong Kong, greatly damaging the bubble economy, as part of the Asian financial crisis. The land values fell in some areas by over half, and the Hang Seng Index fell by over 1,500 points on 28 October, losing 22.8 % of its value in a week. Exacerbating the region's economic problems, Hong Kong was hit badly by the SARS virus in the summer of 2003, especially in the effect that it had on travel to and from Hong Kong.
On 1 July the same year, half a million people marched in the largest protest rally ever aimed at the government of Hong Kong, voicing concerns about a proposed anti-subversion bill that would have eroded freedom of the press, of religion and of association arising from Article 23 of the Hong Kong Basic Law, as well as dissatisfaction with the poor state of the economy. Regina Ip, then Secretary for Security, and Anthony Leung, then Financial Secretary, were forced to leave office in 2003 under public pressure.
On 10 March 2005, Tung Chee Hwa submitted his resignation as chief executive of Hong Kong. Donald Tsang, the Chief Secretary for Administration of Hong Kong, served as Acting Chief Executive until 25 May, when he, too, resigned from his post to take part in the campaign for the new Chief Executive election. Following an interim government headed by Henry Tang, Tsang was eventually elected as Chief Executive.
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