As the mainland liberalised its economic climate, Hong Kong's transport marketplace faced intense Level of competition from other Chinese ports. Fifty for every cent of China's trade goods ended up routed through Hong Kong in 1997, dropping to about 13 for every cent by 2015.[226] The territory's negligible taxation, typical legislation method, and civil services appeal to overseas firms wishing to establish a existence in Asia.[226] the town has the next-highest amount of company headquarters while in the Asia-Pacific location.[227] Hong Kong is really a gateway for international immediate expense in China, offering buyers open up usage of mainland Chinese markets through immediate links With all the Shanghai and Shenzhen stock exchanges.
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Immediately following the transfer, Hong Kong was severely impacted by quite a few crises. The federal government was compelled to implement significant overseas exchange reserves to take care of the Hong Kong dollar's forex peg in the 1997 Asian money disaster,[70] and the recovery from this was muted by an H5N1 avian-flu outbreak[80] and a housing surplus.
Administrative infrastructure was speedily developed by early 1842, but piracy, sickness, and hostile Qing guidelines originally prevented The federal government from attracting commerce. disorders about the island enhanced during the Taiping Rebellion within the 1850s, when many Chinese refugees, including wealthy merchants, fled mainland turbulence and settled inside the colony.[16] further more tensions in between the British and Qing over the opium trade escalated into the 2nd Opium War.
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