"Special Administrative Region" retaining a high degree of autonomy for at least 50 years after the transfer. On July 1, 1997 the transfer of sovereignty occurred ending 156 years of British colonial rule. Hong Kong remains economically independent to this day.
Hong Kong Bridge
Economy Hong Kong has the highest degree of autonomy as a Special Administrative Region of the People's Republic of China in all areas except defense and foreign affairs. Individual rights and freedoms are enshrined in the "Hong Kong Basic Law" constitution. The legal system is based on English common law and completely independent of China's civil law. The Hong Kong government is made of a Legislative Council, Executive Council, Judiciary and Civil Service. The Executive Council is headed by the Chief Executive, who is chosen by the Election Committee and appointed by the Central People's Government. The Political & Economic Risk Consultancy rated Hong Kong as the "2nd most politically stable country in Asia" with the "best Judicial system in Asia". A total of 70 out of the world's 100 largest banks have licensed representative offices in Hong Kong. The Stock Exchange of Hong Kong (SEHK) is the 6th largest in the world with over $2.3 Trillion (USD) in