[216] The city has the 2nd-highest amount of corporate headquarters from the Asia-Pacific area.[217] Hong Kong is actually a gateway for international direct investment decision in China, offering investors open up use of mainland Chinese marketplaces by way of direct hyperlinks Using the Shanghai and Shenzhen inventory exchanges. The territory was the very first sector outdoors mainland China for renminbi-denominated bonds, and is among the most significant hubs for offshore renminbi investing.[218]
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These universities are issue towards the curriculum guidelines as supplied by the instruction Bureau. personal schools subsidised beneath the Direct Subsidy Scheme and Intercontinental colleges slide beyond This method and could elect to utilize differing curricula and instruct making use of other languages.[292]
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Immediately following the transfer, Hong Kong was seriously impacted by quite a few crises. The government was forced to utilize significant foreign-exchange reserves to take care of the Hong Kong greenback's currency peg over the 1997 Asian economic crisis,[sixty nine] plus the recovery from this was muted by an H5N1 avian-flu outbreak[78] in addition to a housing surplus.
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Hong Kong is ruled by a hybrid routine that isn't fully consultant of your inhabitants. Legislative Council associates elected by purposeful constituencies made up of Experienced and special curiosity groups are accountable to People narrow corporate electorates and not most of the people. This electoral arrangement has certain a professional-establishment the vast majority during the legislature Considering that the transfer of sovereignty. Similarly, the Main Executive is chosen by establishment politicians and corporate users in the Election Committee rather then straight elected.
[111] Interpretative and amending electric power about The fundamental legislation and jurisdiction in excess of functions of condition lie Using the central authority, producing regional courts eventually subordinate towards the mainland's socialist civil law technique.[112] Decisions made by the Standing Committee of the National individuals's Congress override any territorial judicial procedure.[113] In addition, in conditions wherever the Standing Committee declares a point out of crisis in Hong Kong, the State Council may possibly implement countrywide law in the region.[114]
It has little arable land and couple of purely natural assets, importing the majority of its meals and Uncooked elements. a lot more than ninety for every cent of Hong Kong's foods is imported, including nearly all its meat and rice.
Hong Kong is often a Particular administrative region of China, with government, legislative, and judicial powers devolved with the nationwide govt.[90] The Sino-British Joint Declaration supplied for economic and administrative continuity through the transfer of sovereignty,[seventy five] leading to an government-led governing technique mainly inherited through the territory's historical past for a British colony.