[216] The city has the second-greatest amount of company headquarters in the Asia-Pacific location.[217] Hong Kong is actually a gateway for overseas direct investment decision in China, supplying buyers open up access to mainland Chinese marketplaces by way of immediate inbound links with the Shanghai and Shenzhen stock exchanges. The territory was the main market exterior mainland China for renminbi-denominated bonds, and is one of the biggest hubs for offshore renminbi buying and selling.[218]
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Immediately after the transfer, Hong Kong was seriously influenced by many crises. The government was forced to use significant overseas-exchange reserves to keep up the Hong Kong dollar's forex peg through the 1997 Asian economic crisis,[sixty nine] and the Restoration from this was muted by an H5N1 avian-flu outbreak[78] along with a housing surplus.
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[33][34][37] "Fragrant" may seek advice from the sweet flavor with the harbour's freshwater influx from your Pearl River or to your odour from incense factories lining the Coastline of northern Kowloon. The incense was saved near Aberdeen Harbour for export in advance of Victoria Harbour designed.[37] Sir John Davis (the second colonial governor) available an alternative origin; Davis explained that the name derived from "Hoong-keang" ("purple torrent"), reflecting the colour of soil about which a waterfall on the island flowed.[38]
Economic and infrastructure integration with China has amplified noticeably Considering that the 1978 start of marketplace liberalisation on the mainland. due to the fact resumption of cross-boundary train company in 1979, many rail and road links are actually improved and produced (facilitating trade among areas).[210][211] The Closer Partnership Economic Arrangement formalised a policy of no cost trade involving the two locations, with Every jurisdiction pledging to eliminate remaining obstructions to trade and cross-boundary expense.
To reduce the trade imbalance, the British bought significant amounts of Indian opium to China. confronted with a drug disaster, Qing officers pursued ever a lot more aggressive actions to halt the opium trade.[57]
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