[fifty nine] Even though European demand for Chinese commodities like tea, silk, and porcelain was substantial, Chinese fascination in European produced merchandise was insignificant, so that Chinese goods could only be bought with cherished metals. To lessen the trade imbalance, the British marketed huge amounts of Indian opium to China. confronted with a drug crisis, Qing officers pursued at any time more aggressive actions to halt the opium trade.[sixty] British colony
The Joint Declaration guarantees The essential Law for fifty many years after the transfer of sovereignty.[seventy nine] It does not specify how Hong Kong might be ruled soon after 2047, along with the central govt's position in deciding the territory's potential program of presidency is the topic of political discussion and speculation. Hong Kong's political and judicial units may very well be integrated with China's at that time, or the territory might continue on for being administered independently.[150][151] nevertheless, through a period of big-scale protests in 2020, the Standing Committee of the countrywide folks's Congress handed the controversial Hong Kong national safety regulation.
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Western classical songs has historically had a robust presence in Hong Kong and continues to be a substantial Portion of nearby musical training.[293] The publicly funded Hong Kong Philharmonic Orchestra, the territory's oldest professional symphony orchestra, frequently hosts musicians and conductors from abroad.
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[35][36][39] "Fragrant" might refer to the sweet taste in the harbour's freshwater inflow within the Pearl River or into the odour from incense factories lining the Coastline of northern Kowloon. The incense was saved in close proximity to Aberdeen Harbour for export right before Victoria Harbour was developed.[39] Sir John Davis (the 2nd colonial governor) supplied an alternative origin; Davis claimed the identify derived from "Hoong-keang" ("pink torrent"), reflecting the colour of soil above which a waterfall on the island flowed.[40]
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The federal government has experienced a passive purpose while in the economic system. Colonial governments had very little industrial coverage and carried out Just about no trade controls. underneath the doctrine of "constructive non-interventionism", put up-war administrations deliberately averted the direct allocation of assets; active intervention was regarded harmful to financial growth.
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straight away following the transfer, Hong Kong was seriously afflicted by a number of crises. The federal government was forced to make use of considerable international exchange reserves to take care of the Hong Kong dollar's currency peg in the 1997 Asian fiscal disaster,[seventy three] plus the recovery from this was muted by an H5N1 avian-flu outbreak[eighty three] plus a housing surplus.
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All travellers concerning Hong Kong and China and Macau have to go through border controls, irrespective of nationality.[one hundred twenty] Mainland Chinese citizens do not need right of abode in Hong Kong and are subject to immigration controls.[121] community funds are taken care of separately through the countrywide authorities; taxes levied in Hong Kong don't fund the central authority.[122][123]