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Location:
Asia,
China,
Hong Kong
Category:
City View
Description:
View
of the business district on Hong
Kong Island
Location Information:
Hong
Kong is one of the two special
administrative regions of the
People's Republic of China; the
other is Macau. Situated on China's
south coast and enclosed by the
Pearl River Delta and South China
Sea, it is renowned for its
expansive skyline and deep natural
harbour. With land mass of 1,104 km2
(426 sq mi) and a population of
seven million people, Hong Kong is
one of the most densely populated
areas in the world. Hong Kong's
population is 95% ethnic Chinese and
5% from other groups. Hong Kong's
Han majority originate mainly from
Guangzhou and Taishan, both cities
in neighbouring Guangdong province.
Under the principle of "one country,
two systems", Hong Kong runs on
economic and political systems
different from those of mainland
China. Hong Kong is one of the
world's leading international
financial centres, with a major
capitalist service economy
characterised by low taxation, free
trade and minimum government
intervention under the ethos of
positive non-interventionism. The
Hong Kong dollar is the 9th most
traded currency in the world. The
Hong Kong Stock Exchange is the
sixth largest in the world, with a
market capitalisation of US$2.97
trillion as at October 2007. In
2009, Hong Kong raised 22 percent of
worldwide IPO capital, making it the
largest centre of initial public
offerings in the world. Hong Kong's
currency is the Hong Kong dollar,
which has been pegged to the U.S.
dollar since 1983
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