Overview of Hong Kong

The Hong Kong Special Administrative Region of the People's Republic of China (HKSAR) is firmly committed to an open market policy. This policy applies to all trade, as well as to all investments in the HKSAR.

Hong Kong has become a Special Administrative Region of the People's Republic of China since July 1, 1997. The "One Country, Two Systems" principle provides the HKSAR with a high degree of autonomy in economic, trade, financial and monetary matters. This is guaranteed by the Sino-British Joint Declaration on Hong Kong and the Basic Law, the mini-constitution of the HKSAR, which ensure that the importance of Hong Kong's capitalist economic and trade systems, free movement of goods and capital, and its status as a free port and separate customs territory, with its own customs boundary. Tariff preferences and other similar arrangements obtained by the HKSAR will be enjoyed exclusively by the HKSAR. They also provide that the HKSAR may participate in relevant international organizations and international trade agreements under the name of Hong Kong, China.

In 1986, Hong Kong became a separate contracting party to the General Agreement on Tariffs and Trade (GATT). Upon the establishment of the World Trade Organization (WTO) on January 1, 1995, Hong Kong became one of its original members. Hong Kong also became a member of the Customs Cooperation Council (subsequently renamed the World Customs Organization) in 1987 and the Asia Pacific Economic Cooperation (APEC) in 1991. After July 1, 1997, the status of the HKSAR in these and other international organizations remains unchanged except that our participation is now under the name of Hong Kong, China.

Click here to read "Hong Kong's Economy in 2006"

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Above data provided by the Hong Kong Economic Trade Office (HKETO) in Canada, and prepared by the Trade and Industry Development of the Government of the HKSAR.