Hong Kong

Hong Kong is a special administrative region of China. Situated on China's southern coast just south of Shenzhen, it consists of Hong Kong Island, Kowloon, and the New Territories. With 7.5 million residents in a 1,114-square-kilometre (430 sq mi) territory, Hong Kong is the fourth-most densely populated region in the world. Hong Kong was established as a colony of the British Empire after the Qing dynasty ceded Hong Kong Island in 1841–1842 as a result of losing the First Opium War. The colony expanded to the Kowloon Peninsula in 1860 and was further extended when the United Kingdom obtained a 99-year lease of the New Territories in 1898. Hong Kong was occupied by Japan from 1941 to 1945 during World War II. The territory was handed over from the United Kingdom to China in 1997. Hong Kong maintains separate governing and economic systems from those of mainland China under the principle of one country, two systems. Originally an area of farming and fishing villages, Hong Kong is now one of the world's most significant financial centres and commercial ports. Hong Kong is the world's third-ranked global financial centre behind New York City and London, the ninth-largest exporter, and eighth-largest importer in the world. Its currency, the Hong Kong dollar, is the ninth-most traded currency in the world. Home to the third-highest number of billionaires of any city in the world, Hong Kong has the second largest number of ultra high-net-worth individuals. The city has one of the highest per capita incomes in the world, although severe income inequality still exists among the population. Hong Kong is the region with the most skyscrapers in the world, even though its housing is consistently in high demand. Hong Kong is the second most expensive residential property market in the world and is one of the most expensive cities in the world. Hong Kong is also one of the most visited cities in the world. Hong Kong is a highly developed territory and has a Human Development Index (HDI) of 0.955, ranking eighth in the world, and is currently the only place in Asia to be in the top ten. Hong Kong is categorized as an Alpha+ city by the Globalization and World Cities Research Network. The city has the highest life expectancy in the world, and has a public transport usage exceeding 90 per cent.