[216] The city has the next-best number of company headquarters inside the Asia-Pacific region.[217] Hong Kong is really a gateway for overseas immediate expenditure in China, giving traders open use of mainland Chinese marketplaces through direct backlinks Together with the Shanghai and Shenzhen inventory exchanges. The territory was the main industry exterior mainland China for renminbi-denominated bonds, and is probably the largest hubs for offshore renminbi investing.[218]
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All travellers between Hong Kong and China and Macau should pass through border controls, in spite of nationality.[116] Mainland Chinese citizens do not need appropriate of abode in Hong Kong and are matter to immigration controls.[117] general public finances are managed individually in the national federal government; taxes levied in Hong Kong do not fund the central authority.[118][119]
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Economic and infrastructure integration with China has increased considerably Because the 1978 start of industry liberalisation on the mainland. Since resumption of cross-boundary practice provider in 1979, many rail and road hyperlinks happen to be improved and created (facilitating trade among areas).[210][211] The Closer Partnership Economic Arrangement formalised a coverage of free of charge trade among The 2 areas, with Each and every jurisdiction pledging to get rid of remaining obstructions to trade and cross-boundary investment decision.
Its populace rebounded swiftly after the war, as competent Chinese migrants fled through the Chinese Civil War, and even more refugees crossed the border when the Communist get together took control of mainland China in 1949.[sixty nine] Hong Kong became the 1st with the 4 Asian Tiger economies to industrialise over the fifties.[70] With a speedily increasing populace, the colonial government commenced reforms to boost infrastructure and community providers.
Western classical music has Traditionally experienced a robust existence in Hong Kong, and remains a big Section of area musical instruction.[280] The publicly funded Hong Kong Philharmonic Orchestra, the territory's oldest Specialist symphony orchestra, regularly host musicians and conductors from overseas.
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