The federal government has experienced a passive function in the economic system. Colonial governments had small industrial coverage, and implemented Nearly no trade controls. Under the doctrine of "favourable non-interventionism", publish-war administrations intentionally averted the direct allocation of methods; active intervention was viewed as harmful to financial progress.
since the mainland liberalised its economy, Hong Kong's shipping market confronted powerful Level of competition from other Chinese ports. Fifty per cent of China's trade products were being routed as a result of Hong Kong in 1997, dropping to about thirteen for each cent by 2015.[216] The territory's negligible taxation, popular law system, and civil services draw in abroad organizations wishing to establish a existence in Asia.
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Administrative infrastructure was swiftly constructed by early 1842, but piracy, disorder, and hostile Qing procedures originally prevented The federal government from attracting commerce. disorders around the island enhanced throughout the Taiping Rebellion from the 1850s, when lots of Chinese refugees, which include rich merchants, fled mainland turbulence and settled within the colony.[16] more tensions in between the British and Qing over the opium trade escalated into the next Opium War.
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