Hong Kong (香港; "Fragrant Harbour"), traditionally Hongkong, officially Hong

Kong Special Administrative Region of the People's Republic of China, is

an autonomous territory on the southern coast of Chinaat the Pearl River Estuary and

the South China Sea.[10] Hong Kong is known for its skyline and deep natural harbour.[11] It

has an area of 1104 km2 and shares its northern border with the Guangdong

Province ofMainland China. Home to around 7.2 million Hongkongers of various

nationalities[note 1], Hong Kong is one of the world's most densely populated metropolises.

After the First Opium War (1839–42), Hong Kong became a British colony with the perpetual

cession of Hong Kong Island, followed by Kowloon Peninsula in 1860 and a 99-year lease of

the New Territories in 1898. After it was occupied by Japan in the Second World War (1941–

45), the British resumed control until 30 June 1997. As a result of negotiations between

China and Britain, Hong Kong was transferred to the People's Republic of China under the

1984 Sino-British Joint Declaration. The territory became a special administrative region of

China with a high degree of autonomy[12] on 1 July 1997 under the principle of one country,

two systems.[13][14]

In the late 1970s, Hong Kong became a major entrepôt in Asia-Pacific. The territory has

developed into a major global trade hub and financial centre, and is regarded as a world city.[15] The 45th-largest economy in the world,[16] Hong Kong ranks top 10 in GDP (PPP) per

capita, but also has the most severe income inequality among advanced economies. Hong

Kong is one of the three most important financial centres alongsideNew York and London.[17] The territory has a high Human Development Index and is ranked highly in the Global

Competitiveness Report.[18] It has been named the freest market economy by the Heritage

Foundation Index of Economic Freedom.[19] The service economy, characterised by free trade

and low taxation, has been regarded as one of the world's most laissez-faire economic

policies, and the currency, theHong Kong dollar, is the 13th most traded currency in the

world.[20] Hong Kong is a member of APEC, ADB, IMF, BIS, WTO, FIFA, and International

Olympic Committee, as Hong Kong Basic Law authorizes the territory to develop relations

with foreign states on its own in appropriate fields, including the economic, trade, financial

and monetary, shipping, communications, tourism, cultural and sports fields.[21]

Limited land created a dense infrastructure and the territory became a centre of

modern architecture, and one of the world's most vertical cities.[22][23] Hong Kong has a highly

developed public transportation network covering 90 per cent of the population, the highest

in the world, and relies on mass transit by road or rail.[24][25] Air pollution remains a serious

problem.[26][27] Loose emissions standards have resulted in a high level of atmospheric

particulates.[28] Nevertheless, Hongkongers enjoy the world's longest or second longest life

expectancies.[29][30]