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HONG KONG CHINA SPECIAL ADMINISTRATIVE REGION Tenders




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Capital Special Administrative Region of China
ISO 3166 Code HK
Population 7,234,800
Area, Sq KM 1,104
Currency Hong Kong dollar
Official Language English, Cantonese
GDP, Billion USD 2,74,013
GDP Growth Rate, % 5.0
Inflation, Avg CP, % Chng N/A
Interest Rates, % N/A
Unemployement Rate, % 3.05
Exchange Rate, 1 USD Equals 7.75
International dial code 852
Time Zone GMT+08:00
Internet TLD .hk

Hong Kong is officially known as Hong Kong Special Administrative Region of the People's Republic of China. It is a city which is situated on the South China Sea and southern coast of China at the Pearl River Estuary. The city is known quite well for its deep natural harbor, expansive skyline and extreme population density. The city is a home to seven million inhabitants covers a total land mass of 1,104 square kilometers. Heritage Foundation Index of Economic Freedom has named the city as the freest market economy. The population of Hong Kong in the current scenario consists of 93.6% ethnic Chinese and it is believed that a major part of the city’s Cantonese-speaking people originated from theneighbouring Guangdong province. In the First Opium War which commenced from 1839 and ended on 1842 and resulted in China's defeat against the British Empire turned the city into becoming a British colony. It was occupied by Japan during the Second World War for a brief period of time but the British resumed control soon after. Hong Kong was transferred to the People’s Republic of China after negotiations were carried out between Britain and China under Sino-British Joint Declaration in 1984. Hong Kong, with a high degree of autonomy, became China's first "special administrative region" under the principle of "one country, two systems” in the year 1997. Towards the late 1970s, Hong Kong was developed into a financial center as well as a global trade hub and was regarded as a world city along with being one of the eight Alpha+ cities. Hong Kong ranked fifth on the Global Cities Index as of 2012. It also has one of the highest per capita incomes in the world and yet the most severe income inequality is seen in this city among the advanced economies. Hong Kong has a high Human Development Index. After New York and London, the city has the third most important financial center. The service economy of Hong Kong is characterized by free trade and low taxation. Even the currency of the Hong Kong is the 13th most traded currency in entire world. Limited flat land in the city has created a necessity for dense infrastructure and the city ended up being a center of modern architecture, which also helped Hong Kong Hong Kong to earn the title as one of the most vertical cities in the world. The public transportation network of the city is highly developed and covers about 90 percent of the population and relies on mass transit by road or rail.

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