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One Country, Two Systems
"One country, two systems" is a constitutional principle of the People's Republic of China (PRC) describing the governance of the special administrative regions of Hong Kong and Macau. Deng Xiaoping developed the one country, two systems concept. This constitutional principle was formulated in the early 1980s during negotiations over Hong Kong between China and the United Kingdom. It provided that there would be only one China, but that each region would retain its own economic and administrative system. Under the principle, each of the two regions could continue to have its own governmental system, legal, economic and financial affairs, including trade relations with foreign countries, all of which are independent from those of the mainland. The PRC has also proposed to apply the principle in the unification it aims for with Taiwan. Background Deng Xiaoping developed the principle of one country, two systems in relation to Hong Kong, Macau, and Taiwan. Hong Kong and Mac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Xiamen
Xiamen,), also known as Amoy ( ; from the Zhangzhou Hokkien pronunciation, zh, c=, s=, t=, p=, poj=Ē͘-mûi, historically romanized as Amoy, is a sub-provincial city in southeastern Fujian, People's Republic of China, beside the Taiwan Strait. It is divided into six District of the People's Republic of China, districts: Huli District, Huli, Siming District, Siming, Jimei District, Jimei, Tong'an, Haicang District, Haicang, and Xiang'an. All together, these cover an area of with a population of 5,163,970 as of 2020 Chinese census, 2020 and estimated at 5.35 million as of 31 December 2024. The urbanization in China, urbanized area of the city has spread from its original island to include most parts of all six of its District of the People's Republic of China, districts, as well as 4 Zhangzhou districts (Xiangcheng District, Zhangzhou, Xiangcheng, Longwen, Longhai District, Longhai and Changtai), which form a built-up area of 7,284,148 inhabitants. This area also connects with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British Hong Kong
Hong Kong was under British Empire, British rule from 1841 to 1997, except for a Japanese occupation of Hong Kong, brief period of Japanese occupation during World War II from 1941 to 1945. It was a crown colony of the United Kingdom from 1841 to 1981, and a British Dependent Territory, dependent territory from 1981 to 1997. The colonial period began with the British occupation of Hong Kong Island under the Convention of Chuenpi in 1841 of the Victorian era, and ended with the handover of Hong Kong to the China, People's Republic of China in July 1997. In accordance with Art. III of the Treaty of Nanking of 1842, signed in the aftermath of the First Opium War, the island of Hong Kong was ceded in perpetuity to Great Britain. It was established as a Crown colony in 1843. In 1860, the British expanded the colony with the addition of the Kowloon Peninsula and was further extended in 1898 when the British obtained Convention for the Extension of Hong Kong Territory, a 99-year lease ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Renminbi
The renminbi ( ; currency symbol, symbol: Yen and yuan sign, ¥; ISO 4217, ISO code: CNY; abbreviation: RMB), also known as the Chinese yuan, is the official currency of the China, People's Republic of China. The renminbi is issued by the People's Bank of China, the Central bank, monetary authority of China. It is the world's Template:Most traded currencies, fifth-most-traded currency as of April 2022. The Yuan (currency), yuan () is the basic unit of the renminbi. One yuan is divided into 10 Jiao (currency), jiao (), and the jiao is further subdivided into 10 Fen (currency), fen (). The word ''yuan'' is widely used to refer to the Chinese currency generally, especially in international contexts. Valuation Until 2005, the value of the renminbi was Fixed exchange-rate system, pegged to the United States dollar, US dollar. As China pursued its Chinese economic reform, transition from planned economy, central planning to a market economy and increased its participation in foreign ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Trade Organization
The World Trade Organization (WTO) is an intergovernmental organization headquartered in Geneva, Switzerland that regulates and facilitates international trade. Governments use the organization to establish, revise, and enforce the rules that govern international trade in cooperation with the United Nations System. The WTO is the world's largest international economic organization, with 166 members representing over 98% of global trade and global GDP. The WTO facilitates trade in goods, trade in services, services and intellectual property among participating countries by providing a framework for negotiating trade agreements, which usually aim to reduce or eliminate tariffs, Import quota, quotas, and other Trade barrier, restrictions; these agreements are signed by representatives of member governments. (The document's printed folio numbers do not match the PDF page numbers.) and ratified by their legislatures. It also administers independent dispute resolution for enforcing ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Special Administrative Regions Of China
The special administrative regions (SAR) of the People's Republic of China are one of four types of Province-level divisions of China, province-level divisions of the China, People's Republic of China directly under the control of its State Council of China, Central People's Government (State Council). As a region, they possess the highest degree of autonomy from China's central government. However, despite the relative autonomy that the Central People's Government offers the special administrative regions, the National People's Congress and its Standing Committee of the National People's Congress, Standing Committee remain capable of enforcing laws for the special administrative regions. The legal basis for the establishment of SARs, unlike the other administrative divisions of China, is provided for by Article 31, rather than Article 30, of the Constitution of China of 1982. Article 31 reads: "The state may establish special administrative regions when necessary. The s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legislative Council Of Hong Kong
The Legislative Council of the Hong Kong Special Administrative Region, colloquially known as LegCo, is the Unicameralism, unicameral legislature of Hong Kong. It sits under People's Republic of China, China's "one country, two systems" constitutional arrangement, and is the power centre of Hong Kong's hybrid regime, hybrid representative democracy, though popular representation in the legislature has diminished significantly in recent years, along with its political diversity. The functions of the Legislative Council are to enact, amend or repeal laws; examine and approve budgets, taxation and public expenditure; and raise questions on the work of the government. In addition, the Legislative Council also has the power to endorse the appointment and removal of the judges of the Hong Kong Court of Final Appeal and the Chief Judge of the High Court of Hong Kong, High Court, as well as the power to impeach the Chief Executive of Hong Kong. Following the 2019–2020 Hong Kong ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Law Of Hong Kong
The law of the Hong Kong Special Administrative Region has its foundation in the English common law system, inherited from being a former British colony and dependent territory. There are several sources of law, the primary ones being statutes enacted by the Legislative Council of Hong Kong and case law made by decisions of the courts of Hong Kong. Since the handover in 1997, the constitutional framework is provided by the Hong Kong Basic Law, which is a piece of National Law of the People's Republic of China and has, practically, constitutional status in Hong Kong. The principle of ‘one country, two systems’ was enshrined in Article 5 of the Basic Law until at least 2047, which contrasts the ‘socialist system and policies’ and ‘the previous capitalist system and way of life’. The Basic Law provides that the common law system shall be maintained. Some commentators described the theoretically hybrid system of civil law and common law as unique, although there are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hong Kong Dollar
The Hong Kong dollar (, sign: HK$; code: HKD) is the official currency of Hong Kong. It is divided into 100 cents. Historically, it was also divided into 1000 mils. The Hong Kong Monetary Authority is the monetary authority of Hong Kong and the Hong Kong dollar. Three commercial banks are licensed by the Hong Kong Monetary Authority to issue their own banknotes for general circulation in Hong Kong. These banks, HSBC, Bank of China, and Standard Chartered, issue their own designs of banknotes in denominations of HK$20, HK$50, HK$100, HK$150, HK$500, and HK$1000, with all designs being similar to one another in the same denomination of banknote. However, the HK$10 banknote and all coins are issued by the Government of Hong Kong. the Hong Kong dollar was the ninth- most traded currency in the world. Hong Kong uses a linked exchange rate system, trading since May 2005 in the range US$1:HK$7.75–7.85. Apart from its use in Hong Kong, the Hong Kong dollar is also used in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Hong Kong
The economy of Hong Kong is a Developed country, highly developed free-market economy. It is characterised by Taxation in Hong Kong, low taxation, almost free port trade and a well-established international financial market. Its currency, called the Hong Kong dollar, is legally issued by three major international commercial banks, and is pegged to the United States dollar, US dollar. Interest rates are determined by the individual banks in Hong Kong to ensure that they are market driven. There is no officially recognised central banking system, although the Hong Kong Monetary Authority functions as a financial regulatory authority. Its economy is governed under positive non-interventionism, and is highly dependent on international trade and finance. For this reason it is regarded as among the most favorable places to start a company. In fact, a recent study shows that Hong Kong has come from 998 registered start-ups in 2014 to over 2800 in 2018, with eCommerce (22%), Fintech (12 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capitalism
Capitalism is an economic system based on the private ownership of the means of production and their use for the purpose of obtaining profit. This socioeconomic system has developed historically through several stages and is defined by a number of basic constituent elements: private property, profit motive, capital accumulation, competitive markets, commodification, wage labor, and an emphasis on innovation and economic growth. Capitalist economies tend to experience a business cycle of economic growth followed by recessions. Economists, historians, political economists, and sociologists have adopted different perspectives in their analyses of capitalism and have recognized various forms of it in practice. These include '' laissez-faire'' or free-market capitalism, state capitalism, and welfare capitalism. Different forms of capitalism feature varying degrees of free markets, public ownership, obstacles to free competition, and state-sanctioned social poli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hong Kong Basic Law
The Basic Law of the Hong Kong Special Administrative Region of the People's Republic of China is a national law of China that serves as the organic law for the Hong Kong Special Administrative Region (HKSAR). With nine chapters, 160 articles and three annexes, the Basic Law was composed to implement Annex I of the 1984 Sino-British Joint Declaration. The Basic Law was enacted under the Constitution of China when it was adopted by the National People's Congress on 4 April 1990 and came into effect on 1 July 1997 after the handover of Hong Kong. It replaced Hong Kong's colonial constitution of the Letters Patent and the Royal Instructions. Drafted on the basis of the Joint Declaration, the Basic Law lays out the basic policies of China on Hong Kong, including the " one country, two systems" principle, such that the socialist governance and economic system then practised in mainland China would not be extended to Hong Kong. Instead, Hong Kong would continue its capitalis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sino-British Joint Declaration
The Sino-British Joint Declaration was a treaty between the governments of the United Kingdom and People's Republic of China signed in 1984 setting the conditions in which Hong Kong was transferred to Chinese control and for the governance of the territory after 1 July 1997. Hong Kong had been a colony of the British Empire since 1842 after the First Opium War and its territory was expanded on two occasions; first in 1860 with the addition of Kowloon Peninsula and Stonecutters Island, and again in 1898 when Britain obtained a 99-year lease for the New Territories. The date of the handover in 1997 marked the end of this lease. The Chinese government declared in the treaty its basic policies for governing Hong Kong after the transfer. A special administrative region would be established in the territory that would be self-governing with a high degree of autonomy, except in foreign affairs and defence. Hong Kong would maintain its existing governing and economic systems s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
