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Hong Kong

Hong Kong

Special administrative region of the People's Republic of China.

Hong Kong (/ˈhɒŋkɒŋ/; Chinese: 香港, Cantonese: [hœ́ːŋ.kɔ̌ːŋ] (audio speaker iconlisten)), officially the Hong Kong Special Administrative Region of the People's Republic of China (HKSAR),[d] is a city and special administrative region of China on the eastern Pearl River Delta in South China. With over 7.5 million residents of various nationalities[e] in a 1,104-square-kilometre (426 sq mi) territory, Hong Kong is one of the most densely populated places in the world. Hong Kong is also one of the most developed cities in the world.

Hong Kong was established as a colony of the British Empire after the Qing Empire ceded Hong Kong Island from Xin'an County at the end of the First Opium War in 1841 then again in 1842.[17] The colony expanded to the Kowloon Peninsula in 1860 after the Second Opium War and was further extended when Britain obtained a 99-year lease of the New Territories in 1898.[18][19] British Hong Kong was occupied by Imperial Japan from 1941 to 1945 during World War II; British administration resumed after the surrender of Japan.[20] The whole territory was transferred to China in 1997.[21] As one of China's two special administrative regions (the other being Macau), Hong Kong maintains separate governing and economic systems from that of mainland China under the principle of "one country, two systems".[22][f]

Originally a sparsely populated area of farming and fishing villages,[17] the territory has become one of the world's most significant financial centres and commercial ports.[23] It is the world's tenth-largest exporter and ninth-largest importer.[24][25] Hong Kong has a major capitalist service economy characterised by low taxation and free trade, and its currency, the Hong Kong dollar, is the eighth most traded currency in the world.[26] Hong Kong is home to the third-highest number of billionaires of any city in the world,[27] the second-highest number of billionaires of any city in Asia, and the largest concentration of ultra high-net-worth individuals of any city in the world.[28][29] Although the city has one of the highest per capita incomes in the world, severe income inequality exists among the population.[30]

Hong Kong is a highly developed territory and ranks fourth on the UN Human Development Index.[31] The city has the largest number of skyscrapers of any city in the world,[32] and its residents have some of the highest life expectancies in the world.[31] The dense space has led to a highly developed transportation network with public transport rates exceeding 90%.[33] Hong Kong is ranked 4th in the Global Financial Centres Index.

Timeline

October 26, 2019
Household appliances maker JS Global Lifestyle Company Ltd pulls its IPO up to $464 million.
September 18, 2019
Shanghai Henlius Biotech raises $410 million in its initial public offering (IPO) on the Hong Kong stock exchange on Wednesday, on the bottom of the range listed on its term sheet.
September 13, 2019
The London Stock Exchange on Friday rejected an unsolicited $37 billion takeover offer from its Hong Kong counterpart, saying that Hong Kong officials' assertion that finalizing the deal would be swift and certain was "simply not credible.
September 13, 2019
The London Stock Exchange on Friday rejected an unsolicited $37 billion takeover offer from its Hong Kong counterpart, saying that Hong Kong officials' assertion that finalizing the deal would be swift and certain was "simply not credible.
2018
Hong Kong's securities regulator suspends UBS from leading IPO in the city for a year and fines it.
2016
Hong Kong Monetary Authority launches the "Cybersecurity Fortification Initiative" to raise the level of cybersecurity of banks in Hong Kong including a common Cyber Resilience Assessment Framework and professional development program to increase the supply of security professionals to the industry.

Further Resources

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News

Title
Author
Date
Publisher
Description
By YURI KAGEYAMA
October 21, 2021
AP NEWS
Shares are mixed in Asia after major Chinese property developer Evergrande said a plan to sell its property management arm to a smaller rival had fallen through. Shares slipped in Hong Kong, Seoul and Tokyo, while they rose in Australia and Shanghai.
October 12, 2021
The Economic Times
The Chinese billionaire has been keeping a low profile since delivering a speech in October last year in Shanghai criticising China's financial regulators. That triggered a chain of events that resulted in the shelving of his Ant Group's mega IPO.
The Associated Press
October 12, 2021
CTVNews
Shares retreated in Asia on Tuesday as surging prices of oil, coal and other energy added to concerns over inflation.
The Associated Press
October 8, 2021
CTVNews
U.S. stocks are opening mixed on Friday after a disappointing jobs report thudded onto Wall Street and raised questions about whether the Federal Reserve will change its timeline to pare back its support for markets.
Lindsay Clark
October 5, 2021
go.theregister.com
Back-to-analogue computing model designed to mimic emergent properties of the brain
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References

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