[216] The city has the next-highest amount of company headquarters from the Asia-Pacific location.[217] Hong Kong is really a gateway for overseas immediate expenditure in China, giving traders open up usage of mainland Chinese marketplaces through direct inbound links With all the Shanghai and Shenzhen inventory exchanges. The territory was the 1st marketplace exterior mainland China for renminbi-denominated bonds, and is amongst the premier hubs for offshore renminbi trading.[218]
As the mainland liberalised its financial state, Hong Kong's shipping marketplace faced rigorous Competitiveness from other Chinese ports. Fifty for each cent of China's trade merchandise had been routed through Hong Kong in 1997, dropping to about 13 per cent by 2015.[216] The territory's minimal taxation, widespread regulation method, and civil provider entice abroad corporations wishing to ascertain a presence in Asia.
The territory's jurisdictional independence is most evident in its immigration and taxation insurance policies. The Immigration Department difficulties passports for long-lasting people which differ from People in the mainland or Macau,[115] and the area maintains a controlled border with the rest of the nation.
All travellers in between Hong Kong and China and Macau ought to pass through border controls, regardless of nationality.[116] Mainland Chinese citizens do not need appropriate of abode in Hong Kong and are subject to immigration controls.[117] general public funds are taken care of individually in the countrywide govt; taxes levied in Hong Kong tend not to fund the central authority.[118][119]
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it's very little arable land and number of normal resources, importing nearly all of its meals and Uncooked elements. much more than 90 for every cent of Hong Kong's foods is imported, together with almost all its meat and rice.
Hong Kong is really a Specific administrative location of China, with government, legislative, and judicial powers devolved with the countrywide authorities.[90] The Sino-British Joint Declaration supplied for economic and administrative continuity from the transfer of sovereignty,[75] resulting in an executive-led governing program largely inherited in the territory's historical past for a British colony.