Hong Kong
Officially Hong Kong Special Administrative Region of the Peoples Republic of China, is an autonomous territory on the southern coast of China at the Pearl River Estuary of the South China Sea. It has a total land and sea area of 2,754 km2 and shares its northern border with the Guangdong Province of Mainland China. With 7.2 million residents of various nationalities,Hong Kong is the worlds fourth most densely populated sovereign state or territory.
After the First Opium War (1839–42), Hong Kong became a British colony with the perpetual cession of Hong Kong Island, followed by Kowloon Peninsula in 1860 and a 99-year lease of the New Territories from 1898. Hong Kong was later occupied by Japan during the Second World War until British control resumed in 1945. In the early 1980s, negotiations between the United Kingdom and China resulted in the 1984 Sino-British Joint Declaration, which paved way for the transfer of sovereignty of Hong Kong in 1997, when the territory became a Special Administrative Region with a high degree of autonomy.
Under the principle of one country, two systems,other than that the State Council of China is responsible for military defense and foreign affairs, Hong Kong maintains its own executive, legislative and judiciary powers, including an independent legal system, public security force, monetary system, customs policy, and immigration policy. In addition, Hong Kong develops relations directly with foreign states and international organizations, in a broad range of appropriate fields.
Hong Kong is ranked the worlds most competitive economy by World Competitiveness Yearbook,and remains one of the worlds most significant financial centres with the highest Financial Development Index in 2012.[20] It is the most popular tourist destination.Its service sector dominated economy is characterised by free trade and low taxation, and has consistently been listed as the freest market economy in the world.While Hong Kong ranks within the top 10 in GDP (PPP) per capita, it also suffers from the most severe income inequality among developed economies and has the worlds most unaffordable housing. As the 44th-largest economy (in purchasing power parity terms) in the world, Hong Kong issues the worlds 13th most traded currency, the Hong Kong dollar.
Hong Kong is known for its skyline and deep natural harbour. The territory has the second largest number of high-rises than any other urban agglomeration in the world. Hong Kong has a highly developed public transportation network covering 90% of the population, the widest in the world. Air pollution and political issues remain serious and concerning problems. Loose emissions standards have resulted in a high level of atmospheric particulates. However, combining with other factors, Hong Kong people enjoy the longest life expectancy counted as a state, and top the world in a study of national IQ estimate.