The Hong Kong Special Administrative Region (HKSAR), on the southern coast of China, is made up of Hong Kong Island, the Kowloon peninsula, the New Territories and several other small islands. The harbour, seven miles of deep sheltered water at Hong Kong's heart, is the source of the region's reputation as one of the greatest trading ports in Asia.
The Hong Kong Special Administrative Region (HKSAR), on the southern coast of China, is made up of Hong Kong Island, the Kowloon peninsula, the New Territories and several other small islands. The harbour, seven miles of deep sheltered water at Hong Kong's heart, is the source of the region's reputation as one of the greatest trading ports in Asia.
Under the principle of 'One Country, Two Systems', the Hong Kong SAR is underpinned by the Basic Law (a type of "mini-constitution") and the Joint Declaration which provide for a high degree of autonomy from the rest of China, except in the areas of foreign affairs and defence. The Basic Law and Joint Declaration also guarantee that for at least 50 years from the date of the handover of sovereignty from Britain to China (1 July 1997), Hong Kong's economic and social systems and way of life will remain unchanged; and fundamental rights and freedom.
Although Hong Kong SAR is a small area of 1,070 square km with a population of only 7 millions, it is the one of the world's largest trading economy as well as one the world's busiest container ports.
Hong Kong SAR is a favourable location for multinational companies to establish their regional headquarters for business because of the Hong Kong government's policy of free trade & market; absence of foreign exchange controls; simple but effective tax system; low tax rate; good internal finance center; sophisticated communication links; well-developed transportation & legal system; good professions and effective labour force.
Furthermore, Hong Kong SAR is a famous international finance center ranking one of the largest foreign exchange market in the world. Moreover, Hong Kong SAR is the significant gateway in the world to the large China market.
