[216] town has the next-highest amount of corporate headquarters in the Asia-Pacific area.[217] Hong Kong is really a gateway for international immediate investment in China, providing buyers open entry to mainland Chinese markets by way of immediate links Together with the Shanghai and Shenzhen inventory exchanges. The territory was the initial market exterior mainland China for renminbi-denominated bonds, and is one of the most significant hubs for offshore renminbi investing.[218]
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quickly after the transfer, Hong Kong was seriously influenced by numerous crises. The federal government was compelled to use sizeable foreign-Trade reserves to take care of the Hong Kong greenback's forex peg in the course of the 1997 Asian economic crisis,[69] as well as the Restoration from this was muted by an H5N1 avian-flu outbreak[seventy eight] along with a housing surplus.
Hong Kong represents itself separately from mainland China, with its have sports activities groups in Worldwide competitions.[282] The territory has participated in virtually every summertime Olympics because 1952, and has earned 3 medals.
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[111] Interpretative and amending electrical power above The essential regulation and jurisdiction above functions of point out lie with the central authority, building regional courts in the long run subordinate for the mainland's socialist civil legislation method.[112] selections produced by the Standing Committee on the nationwide persons's Congress override any territorial judicial course of action.[113] In addition, in conditions where the Standing Committee declares a condition of crisis in Hong Kong, the condition Council could implement nationwide legislation from the area.[114]
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