The first signs of settlement in Hong Kong date back to the Qin dynasty, which falls into the Paleolithic era. The Portuguese were the first foreigners to set foot on soil of Hong Kong and later Britain captured it. In 1841, according to the Treaty of Nanking, Hong Kong was handed over to Britain, which formed a crown colony here. Victoria Peak was a strong hold of the European people and the wealthy Tai-Pans, or traders from the West had little contact with the locals. With declaration of Hong Kong as a free port and establishment of western education systems ensured that Hong Kong would progress to its might in the coming years. During the Cultural Revolution, many corporations shifted from mainland China in fear of attack, and moved from places like Shanghai to Hong Kong. It was this brief period in history that Hong Kong was considered as the main link between mainland China and the outer world, and this was the period of the rise of Hong Kong as a financial hub.
Hong Kong economy remains to be a highly capitalist economy, resting on the pillars of free markets, non intervention of government and low tax rates. The sense of liberalization that an investor gets when he invests in Hong Kong is reflected when you consider the fact that Hong Kong has been ranked the most free economy for the past 14 years, consecutively in the Index of Economic Freedom. Hong Kong is one of the four Asian Tigers of economy, the other three being Taiwan, Singapore and South Korea. Hong Kong also happens to be home to most headquarters of big corporate houses in the Asia Pacific region. Hong Kong is a prime center of exports, because of the wonderful harbor that it offers in the Pearl River delta. Exports were the main driving force in the rapid industrialization of Hong Kong in the post world war II era. Today Hong Kong’s economy rests on exports, service industry, market forces such as banking and insurance sectors, shipping and cargo and other small and large industries. Hong Kong is a major exporting and importing center and most of the products that enter mainland China from other parts of the globe either come through Hong Kong (in a larger extent) or through Shanghai (in a slightly lesser quantity), making Hong Kong a docking area of goods worth billions of dollars. Goods worth billions enter and leave this port every day, making it the second busiest port in the world, after Singapore and thrusting its economy. Economy of Hong Kong is also propelled by the freedom of trading at the stock exchange, which is loved by the investors.
Hong Kong’s consumer price inflation is almost zero. Hong Kong imports most of its food items and raw material. Exports from here include things ranging from trouser zippers to ships! Hong Kong exports it all. Hong Kong’s largest export markets include the United States, Japan, Korea and of course, mainland China.
Hong Kong is often described as the place where the East and the West merge, and it is reflected in the culture if the people here. This is a cosmopolitan metropolis in true sense, with people from virtually all over the world living here in complete harmony with each other, respecting each others traditions and ways of life. Bruce lee, Chow Yun Fat and Jackie Chan are products of Hong Kong and that means that entertainment is another major export from Hong Kong, especially when it is related to martial arts.
If you thought that New York was the city of sky scrapers, think again. New York only has a fraction of the total number of sky scrapers in Hong Kong, which tops the list of sky scrapers in the world. The building of HSBC’s headquarters is one of the most interesting buildings here, because of its beauty and because of its sensible design as well. It has many features which reduce the dependence and usage of electricity and relies on natural sources for light and keeping cool. Another feature of this building is that it is totally modular, and the whole building can be removed and shifted to another location within 48 hours!
Traveling within Hong Kong is a piece of cake, thanks to its well networked transport system. The Honk Kong tram network is the only one of its kind that runs double Decker carriers. The payment system for using public transport here is also smart and unique. All payments can be made using a special pre paid card, known as the octopus card, which can be used to pay for buses, trains, trams and even parking tickets. It is also compatible with phone, electricity and other bills, to name a few. For traveling in the Central, the main business hub of Hong Kong, you can use the extensive network of moving pavements and escalators.
Hong Kong is a businessman’s paradise, offering free trade and low tax avenues for investment. It is one of the most efficient and worthy harbors and shipping docks in the world. It is also the import Export hub of Asia Pacific region, making it an ideal place to invest your hard earned money in.