Is Hong Kong A Country?

There is often confusion about whether Hong Kong is a country or not. Does Hong Kong qualify as a country? If it does not, then what is the governance, economic system, and status of the place? Does it belong to the People’s Republic of China? Or is it a completely separate entity of its own? When it comes to the country, China, it is fairly well-known for the rigid and strict nature of the communist economic system. Based on the guarded nature of the society of China, Hong Kong stands out as an exception based on its liberal ambience and the title of being a hotspot for party and wild nightlife. What can be the reasons for the special provisions provided to Hong Kong?

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Is Hong Kong A Country?

Hong Kong is not a country. It comes under the special administrative region (SAR) of the People’s Republic of China. It is situated on the southernmost edge of China. Hong Kong is exempt from having the constitution of Cina. It had its own laws, constitution, economic, and political systems. 

The administrative centre of Hong Kong is Tamar. The total area is 2,755 square kilometers. The total population of this special administrative region is 7.2 million. The most common dialect heard on the streets of Hong Kong is Cantonese, Mandarin is also spoken by the citizens, and English is most commonly spoken by all people, as Hong Kong also sees a high number of tourists and foreign exchange students. The translation of ‘Hong Kong’ in Chinese is ‘Fragrant Harbour’. 

History of Hong Kong 

In the year 1984, Britain and China signed an agreement known as the Chinese-British Joint Declaration that freed Hong Kong from the colonial rule of the British colony and handed Hong Kong back to China. This took place on 1st July 1997, the moment when Hong Kong’s special status as a Special Administrative Region happened. 

The concept of “One law, two systems” was introduced, which stated that Hong Kong would now be a part of China, but the economy of Hong Kong would not be communist. Hong Kong would have a Capitalist economy and experience a high degree of political liberty, to function differently from other states of China. 

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Economy of Hong Kong 

Hong Kong has a free market economy within the framework of Capitalism. It has the simplest tax system in the world. It is a free port, which means there are no tariffs on imported or exported goods. The four pillars of the economy of Hong Kong are finance services, trade - logistics, tourism, and professional services. Hong Kong has the 8th largest stock market in the world. The economy raises its revenue source from the taxation of land. 

Hong Kong is quite liberal in its tax laws towards the people. They have a famous 60-day work rule. This rule states that if employees from any company are present in Hong Kong for 60 days or less and contribute towards the workforce, they will not be levied any kind of tax on their services offered. 

Fun Facts About Hong Kong 

• The currency used in Hong Kong is Hong Kong dollars. It is divided into 100 cents. 
• Hong Kong ranks third in the world as a global financial center after the cities of New York and London.  
• Hong Kong attracts a lot of tourists for its impressive sky high buildings, and a vibrant nightlife culture among the youth. 
• Hong Kong has the highest life expectancy in the world. This is a direct result of the highly developed healthcare system of Hong Kong. 
• Hong Kong has the highest percentage of non-followers of any religion, making it 61% of the total population. The rest of the population comprises 20% Christianity, 14% Buddhism, and 1% Daoism. 
• The home airline of Hong Kong is named Cathay Pacific. It is considered the “World’s Best Airline” and has won this title many times. 
• Hong Kong has the highest number of restaurants and cafes per capita in the world. 

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