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Government Rent In Hong Kong
Government rent in Hong Kong started on July 1, 1997, with the inception of the Joint Declaration. It said that new land grants contain a standard condition that the lessee is required to pay an annual rent, equal to 3% of the rateable value from time to time of the land leased. The Joint Declaration The Sino-British Joint Declaration on the Question of Hong Kong ("the Joint Declaration") was signed between the Chinese and British Governments on 19 December 1984. It came into force on 27 May 1985. The Joint Declaration sets out in its Annex III provisions in regard to, inter alia (among other things), the grant of new land leases and the extension of non-renewable land leases. In accordance with Annex III to the Joint Declaration, between 27 May 1985 and 30 June 1997, new leases of land were granted by the Hong Kong Government for a term expiring not later than 30 June 2047. Such leases were granted at a premium and nominal rent until 30 June 1997, after which date the lessees ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Territories
The New Territories (N.T., Traditional Chinese characters, Chinese: ) is one of the three areas of Hong Kong, alongside Hong Kong Island and Kowloon. It makes up 86.2% of Hong Kong's territory, and contains around half of the population of Hong Kong. Historically, it is the region described in the The Convention for the Extension of Hong Kong Territory, Convention for the Extension of Hong Kong Territory. According to that treaty, the territories comprise the mainland area north of Boundary Street on the Kowloon Peninsula and south of the Sham Chun River (which is the border between Hong Kong and mainland China), as well as over 200 Outlying Islands, Hong Kong, outlying islands, including Lantau Island, Lamma Island, Cheung Chau, and Peng Chau in the territory of Hong Kong. Later, after New Kowloon was defined from the area between the Boundary Street and the Kowloon Ranges spanned from Lai Chi Kok to Lei Yue Mun, and the extension of the urban areas of Kowloon, New Kowloon ... [...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] |
