The Hong Kong Jockey Club, the territory's biggest taxpayer,[288] has a monopoly on gambling and supplies about seven per cent of government income.[289] a few varieties of gambling are lawful in Hong Kong: lotteries and betting on horse racing and soccer.[288] education and learning
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Originally a sparsely populated location of farming and fishing villages,[16] the territory has become one of many environment's most significant economic centres and industrial ports.[21] it's the earth's tenth-premier exporter and ninth-premier importer.[22][23] Hong Kong has A significant capitalist assistance overall economy characterised by low taxation and free of charge trade, and its forex, the Hong Kong dollar, is definitely the eighth most traded currency on this planet.
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[33][34][37] "Fragrant" may possibly refer to the sweet flavor of the harbour's freshwater influx within the Pearl River or into the odour from incense factories lining the Coastline of northern Kowloon. The incense was saved around Aberdeen Harbour for export ahead of Victoria Harbour created.[37] Sir John Davis (the second colonial governor) made available an alternate origin; Davis said that the title derived from "Hoong-keang" ("purple torrent"), reflecting the colour of soil around which a waterfall about the island flowed.[38]
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Western classical songs has Traditionally had a strong presence in Hong Kong, and continues to be a big Element of neighborhood musical education and learning.[280] The publicly funded Hong Kong Philharmonic Orchestra, the territory's oldest Expert symphony orchestra, often host musicians and conductors from overseas.
since the mainland liberalised its economy, Hong Kong's shipping market confronted intense Opposition from other Chinese ports. Fifty for every cent of China's trade items ended up routed by means of Hong Kong in 1997, dropping to about thirteen for every cent by 2015.[216] The territory's minimum taxation, common law method, and civil provider catch the attention of abroad companies wishing to establish a existence in Asia.
Hong Kong has a humid subtropical climate (Köppen Cwa), characteristic of southern China. Summer is scorching and humid, with occasional showers and thunderstorms and warm air from your southwest. Typhoons come about most frequently then, sometimes leading to floods or landslides. Winters are gentle and usually sunny at first, turning out to be cloudy towards February; an occasional chilly front provides powerful, cooling winds through the north. The most temperate seasons are spring (that may be changeable) and autumn, which is normally sunny and dry.