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Originally a sparsely populated location of farming and fishing villages,[sixteen] the territory is becoming one of many planet's most important economic centres and business ports.[21] it truly is the world's tenth-greatest exporter and ninth-most significant importer.[22][23] Hong Kong has An important capitalist service economic climate characterised by reduced taxation and free trade, and its currency, the Hong Kong dollar, would be the eighth most traded forex on the earth.
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To reduce the trade imbalance, the British sold big quantities of Indian opium to China. Faced with a drug crisis, Qing officers pursued ever extra aggressive steps to halt the opium trade.[57]
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Its populace rebounded quickly after the war, as skilled Chinese migrants fled from the Chinese Civil War, and even more refugees crossed the border when the Communist celebration took control of mainland China in 1949.[69] Hong Kong became the first of your 4 Asian Tiger economies to industrialise throughout the 1950s.[70] that has a fast raising populace, the colonial governing administration commenced reforms to enhance infrastructure and general public services.
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