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right away after the transfer, Hong Kong was severely afflicted by many crises. The federal government was forced to work with considerable international-Trade reserves to take care of the Hong Kong greenback's forex peg in the 1997 Asian fiscal crisis,[sixty nine] as well as the Restoration from this was muted by an H5N1 avian-flu outbreak[seventy eight] and a housing surplus.
[33][34][37] "Fragrant" could consult with the sweet flavor of the harbour's freshwater inflow through the Pearl River or to your odour from incense factories lining the coast of northern Kowloon. The incense was saved in close proximity to Aberdeen Harbour for export in advance of Victoria Harbour made.[37] Sir John Davis (the 2nd colonial governor) available an alternative origin; Davis claimed that the name derived from "Hoong-keang" ("purple torrent"), reflecting the colour of soil over which a waterfall to the island flowed.[38]
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The territory's jurisdictional independence is most clear in its immigration and taxation guidelines. The Immigration Department concerns passports for permanent residents which differ from Individuals of the mainland or Macau,[one hundred fifteen] and also the region maintains a controlled border with the remainder of the state.
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The government has had a passive position in the economic system. Colonial governments experienced tiny industrial plan, and implemented Pretty much no trade controls. underneath the doctrine of "constructive non-interventionism", write-up-war administrations deliberately prevented the direct allocation of resources; Lively intervention was regarded detrimental to economic development.
The Hong Kong Jockey Club, the territory's greatest taxpayer,[288] contains a monopoly on gambling and presents more than 7 per cent of government income.[289] 3 sorts of gambling are authorized in Hong Kong: lotteries and betting on horse racing and soccer.[288] education and learning
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Hong Kong incorporates a remarkably designed, innovative transport network. around ninety for each cent of each day journeys are created on general public transportation, the highest share on earth.
Hong Kong contains a humid subtropical climate (Köppen Cwa), attribute of southern China. Summer is warm and humid, with occasional showers and thunderstorms and warm air within the southwest. Typhoons happen most often then, occasionally resulting in floods or landslides. Winters are gentle and typically sunny in the beginning, getting to be cloudy to February; an occasional chilly entrance delivers potent, cooling winds from the north. probably the most temperate seasons are spring (which may be changeable) and autumn, which is usually sunny and dry.
foodstuff in Hong Kong is mainly determined by Cantonese Delicacies, despite the territory's exposure to international influences and its residents' different origins. Rice would be the staple food items, and is generally served simple with other dishes.[268] Freshness of elements is emphasised. Poultry and seafood are commonly offered Are living at wet markets, and components are utilised as speedily as is possible.
The title in the territory, first romanised as "He-Ong-Kong" in 1780,[35] initially referred to a little inlet Situated between Aberdeen Island as well as the southern coast of Hong Kong Island. Aberdeen was an initial position of Get hold of among British sailors and native fishermen.[36] Although the supply of the romanised identify is unfamiliar, it is mostly believed to become an early phonetic rendering from the Cantonese pronunciation hēung góng. The identify interprets as "fragrant harbour" or "incense harbour".