Hong Kong, described as a 'barren rock' over 150 years ago, is now heralded as the world's freest economy and a leading financial, trading and business centre. Despite its small population and geography, it is the world's tenth largest trading economy.

In 1997, after 150 years of British administration, Hong Kong became a Special Administrative Region of the People's Republic of China. Hong Kong enjoys a high level of autonomy from the Chinese mainland. Commercial, political and personal freedoms are protected by Hong Kong's constitution.

Hong Kong Fast Facts

	World's 11th largest economy and 3rd in Asia, after Japan and China
	Familiar, and enforceable, legal system
	Free trade and free market (consistently voted the world's freest economy)
	Corruption free society; strong IPR protection
	Low tax rate - 16% salaries tax, 17.5% profits tax
	Second largest stock market in Asia, 9th largest in the world
	Highly educated workforce
	Next to the Pearl River Delta region of China - one of the world's fastest-growing manufacturing regions
	Asia's most popular location for overseas business
	Population: 6.81 million
	GDP per capita: US$23,300
	External trade: Total exports: US$223 billion Domestic exports: US$15.6 billion Re-exports: US$207.8 billion Imports: US$231.5 billion
	Visitor arrivals: 15.5 million
	World's busiest international cargo airport - 2.64 million tonnes of cargo
	World's busiest container port - 20.4 million TEUs
* 2003 economic data

Hong Kong - at a glance

Political and legal systems
Under the 'One Country, Two Systems' concept negotiated between China and the UK, Hong Kong controls all aspects of its governance, except foreign affairs and defence matters. Hong Kong's legal system largely follows the British system.

Geography
Hong Kong covers just 1,100 sq km and is divided into four main areas D Kowloon, Hong Kong Island, the New Territories and the Outlying Islands.

Kowloon and the New Territories are on a peninsula of the Chinese mainland and share a 20 km boundary. Hong Kong Island is situated across the harbour and is home to the city's main business district and international hotels. The Outlying Islands refer to any of Hong Kong's other 234 islands.

Population
Some 6.8 million people live in Hong Kong. 95 per cent are Hong Kong Chinese, five per cent are non-Chinese.

Language
Chinese (Cantonese) and English are Hong Kong's official languages. English is widely spoken among the business community. Putonghua (Mandarin), the official language in the Chinese mainland, is increasingly popular.

Climate
Hong Kong's climate is subtropical and seasonal. Temperatures can drop below 10 C in winter and exceed 30 C in summer. About 90 per cent of the rainfall occurs between April and September.

Infrastructure
Hong Kong has a world-leading infrastructure network. Its airport, consistently recognised as one of the best in the world, has flights to some 100 overseas destinations and more than 40 mainland cities. Its container port and air cargo operations are the world's busiest. The public transport network efficiently transports some four million people a day to their workplaces. More than 25,000 vehicles cross between Hong Kong and the Chinese mainland each day.

Time zone
GMT +8

International dialling code
+852

Hong Kong - your partner for success in Asia

	Free flow of capital, free trade, free market
	No foreign investment restrictions
	No foreign exchange controls
	Entrepreneurial culture D 98 per cent of businesses are SMEs

International business centre Level playing field for local and international companies Familiar and transparent legal system World's busiest sea and air cargo centre Free media (print, television and internet) Business platform for China Unrivalled experience of doing business in China Free trade agreement (Cepa) gives preferential access to China from Hong Kong Next to one of the world's fastest growing manufacturing regions - the Pearl River Delta Largest external investor in China - 44 per cent of China's total

	Increased rail, road, sea and air links with China
	Extra container terminal to cater to growing demand
	Express air cargo terminal and logistics centre to be built at airport
	95% broadband coverage - and growing

Low tax system I17.5 per cent profits tax 16 per cent maximum salaries tax No VAT, sales tax or capital gains tax No withholding tax on dividends and interest Economic performance 6% projected GDP growth for 2004 Trade exports up 11.7 per cent in 2003 Per capita GDP of US$23,300 Stable currency linked to US$ A vibrant and safe city Convenient, compact and cosmopolitan city 40 per cent of Hong Kong is country park World-class events and facilities for sports and arts Thousands of restaurants to suit all occasions