Hong Kong, described as a 'barren rock' over 150 years ago, has become a world-class financial, trading and business centre and, indeed, a great world city.
Hong Kong has no natural resources, except one of the finest deep-water ports in the world. A hardworking, adaptable and well-educated workforce of about 3.58 million, coupled with entrepreneurial flair, is the bedrock of Hong Kong's productivity and creativity.
Hong Kong became a Special Administrative Region (SAR) of the People's Republic of China on July 1, 1997, after a century and a half of British administration. Under Hong Kong's constitutional document, the Basic Law, the existing economic, legal and social systems will be maintained for 50 years. The SAR enjoys a high degree of autonomy except in defense and foreign affairs.
Hong Kong is situated at the south-eastern tip of China; Hong Kong is ideally positioned at the centre of rapidly developing East Asia. With a total area of 1 104 square kilometers, it covers Hong Kong Island, Kowloon Peninsula just opposite, and the New Territories – the more rural section of Hong Kong, which also includes 262 outlying islands.
Hong Kong's population was about 6.94 million in mid-2005. The population density was 6 420 people per square kilometer. Hong Kong had a large foreign population of about 517 560. The top three nationalities came from the Philippines (130 810), Indonesia (114 020) and Thailand (28 360).
Chinese and English are the official languages. English is widely used in the Government and by the legal, professional and business sectors. There is no shortage of well- educated competent bilingual or even trilingual professionals who speak English, Cantonese and Portuguese. These are vital staff for any enterprise trading in Hong Kong or doing business with the Mainland and Taiwan.
Hong Kong is the world's 11th largest trading economy, the world's sixth largest foreign exchange market, the world's 15th largest banking centre, and Asia's second biggest stock market. Hong Kong is one of the world's top exporters of garments, watches and clocks, toys, games, electronic products and certain light industrial products.