1,098 sq km (424 sq miles).
Description:
Hong Kong is located in east Asia, just south of the Tropic of
Cancer. Hong Kong Island is 32km (20 miles) east of the mouth of
Pearl River and 135km (84 miles) southeast of Canton. It is
separated from the mainland by a broad natural harbour. Hong Kong
Island was ceded to Britain in 1842 by the Treaty of Nanking; and
the Kowloon Peninsula (south of Boundary Street and Stonecutters
Island) in 1860 by the Convention of Peking. The area of Boundary
Street to Shenzhen River and a group of 260 islands, now known as
the New Territories, were leased to Britain in 1898 for a period of
99 years. The New Territories (plus the 260 islands) comprise 891 sq
km (380 sq miles). Shortage of land suitable for development has led
to reclamation from the sea, principally from the seafronts of Hong
Kong Island and Kowloon.
Population 6.96 million (2007).
language:
Cantonese and English are the official languages, with Cantonese the
most widely spoken. Mandarin is growing fast as a second language.
English is widely spoken, especially in business circles.
Climate:
Economy - overview:
Hong Kong's economy has moved away from manufacturing and is now
service-based, acting as a major corporate and banking centre as well
as a conduit for China's burgeoning exports. Manufacturing is
concentrated in textiles, consumer electronics and other consumer
goods. Hong Kong's natural deep-water cargo port is one of the busiest
and most efficient in the region. Much regional trade is still
conducted through Hong Kong. Soon after Hong Kong's handover to China
in July 1997, Asia's financial crisis hit. With its mature and stable
banking system, Hong Kong weathered the immediate storm, but its
economy was affected by a large financial depression across Asia.
After a brief recovery, by mid 2002 the economy was contracting and in
2003 the SARS epidemic caused a further, prolonged downturn. Since
2004, however, Hong Kong has enjoyed a buoyant recovery, with a new
wave of construction and infrastructure investment evident, and a
major influx of cash-rich tourists from mainland China. In late 2008,
Hong Kong's financial markets were badly affected by the global
financial crisis, and the government considerably downgraded its
growth forecasts for 2008 and 2009.
Economy:
Hong Kong's economy has moved away from manufacturing and is now
service-based, acting as a major corporate and banking centre as well
as a conduit for China's burgeoning exports. Manufacturing is
concentrated in textiles, consumer electronics and other consumer
goods. Hong Kong's natural deep-water cargo port is one of the busiest
and most efficient in the region. Much regional trade is still
conducted through Hong Kong. Soon after Hong Kong's handover to China
in July 1997, Asia's financial crisis hit. With its mature and stable
banking system, Hong Kong weathered the immediate storm, but its
economy was affected by a large financial depression across Asia.
After a brief recovery, by mid 2002 the economy was contracting and in
2003 the SARS epidemic caused a further, prolonged downturn. Since
2004, however, Hong Kong has enjoyed a buoyant recovery, with a new
wave of construction and infrastructure investment evident, and a
major influx of cash-rich tourists from mainland China. In late 2008,
Hong Kong's financial markets were badly affected by the global
financial crisis, and the government considerably downgraded its
growth forecasts for 2008 and 2009.
textiles, clothing, tourism, banking, shipping, electronics,
plastics, toys, watches, clocks
Exports:
Electrical machinery and appliances, textiles, watches and clocks,
toys and precious stones.
Imports:
Raw materials and semi-manufactured goods, consumer goods, capital
goods, food and fuel (most is re-exported). • Main trade partners:
China (PR), Japan, USA, Taiwan, Singapore and Korea (Rep).
Exchange rates:
GDP :
US$206.7 billion (2007).
Useful links:
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