Hong Kong can be a Unique administrative location of China, with executive, legislative, and judicial powers devolved in the nationwide governing administration.[93] The Sino-British Joint Declaration supplied for economic and administrative continuity from the transfer of sovereignty,[seventy eight] causing an executive-led governing system mostly inherited from the territory's record like a British colony.
Chinese nationwide legislation will not generally use during the region and Hong Kong is dealt with to be a independent jurisdiction.[one hundred and one] Its judicial method is predicated on frequent law, continuing the lawful tradition founded in the course of British rule.[112] community courts may refer to precedents set in English law and overseas jurisprudence.[113] nevertheless, mainland criminal technique regulation applies to cases investigated with the Place of work for Safeguarding countrywide safety on the CPG while in the HKSAR.
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Originally a sparsely populated spot of farming and fishing villages,[sixteen] the territory is now one of several earth's most significant fiscal centres and commercial ports.[22] It is the globe's tenth-greatest exporter and ninth-biggest importer.[23][24] Hong Kong has An important capitalist services financial system characterised by low taxation and cost-free trade, and its currency, the Hong Kong dollar, would be the eighth most traded forex on earth.
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Hong Kong is characterised to be a hybrid of East and West. standard Chinese values emphasising loved ones and schooling blend with Western beliefs, together with financial liberty as well as the rule of regulation.[269] Although the vast majority on the inhabitants is ethnically Chinese, Hong Kong has made a definite identity. The territory diverged in the mainland because of its long duration of colonial administration and a different tempo of financial, social, and cultural progress. Mainstream lifestyle is derived from immigrants originating from different elements of China. This was motivated by British-design and style instruction, a individual political system, and also the territory's rapid development over the late 20th century.
[114] Interpretative and amending energy above the Basic legislation and jurisdiction around functions of point out lie Together with the central authority, making regional courts eventually subordinate on the mainland's socialist civil regulation technique.[a hundred and fifteen] choices made by the Standing Committee from the nationwide people today's Congress override any territorial judicial system.[116] Moreover, in situation the place the Standing Committee declares a point out of crisis in Hong Kong, the condition Council may possibly enforce national law from the location.[117]
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[50] By the end on the Yuan dynasty, seven substantial families experienced settled within the region and owned most of the land. Settlers from close by provinces migrated to Kowloon all through the Ming dynasty.[51]
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[34][35][38] "Fragrant" may refer to the sweet taste of your harbour's freshwater influx within the Pearl River or on the odour from incense factories lining the Coastline of northern Kowloon. The incense was saved in the vicinity of Aberdeen Harbour for export in advance of Victoria Harbour made.[38] Sir John Davis (the 2nd colonial governor) offered an alternative origin; Davis explained that the title derived from "Hoong-keang" ("pink torrent"), reflecting the colour of soil over which a waterfall on the island flowed.[39]
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The identify with the territory, very first romanised as "He-Ong-Kong" in 1780,[36] at first referred to a small inlet Found involving Aberdeen Island and also the southern Coastline of Hong Kong Island. Aberdeen was an Original point of contact between British sailors and native fishermen.[37] Even though the supply of the romanised identify is mysterious, it is normally believed being an early phonetic rendering on the Cantonese pronunciation hēung góng, or Tanka Cantonese. The identify interprets as "fragrant harbour" or "incense harbour".
Although the territory had among Asia's major production economies during the latter half from the colonial period, Hong Kong's financial state is now dominated through the assistance sector. The sector generates ninety two.seven per cent of financial output, with the general public sector accounting for around ten per cent.