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Hong Kong

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Country Information About Hong Kong

Hong Kong is a collection of islands along with a region perched on the edge of mainland China in South East Asia – the region is a part of the People’s Republic, but retains a semi-autonomous governance system and is guaranteed to not have the Socialist values of the parent nation placed upon it, at least not for the next half a century. As such, Hong Kong is something of an oddity – a real bridge where east meets west, with the communist values of the mother nation looming over a surprising capitalist haven. The region comprises of four sections: Kowloon, Hong Kong Island, the New Territories and the Outlying Islands – the New Territories and Kowloon make up the section joining the Chinese mainland, Hong Kong Island is the centre of business in the country and the Outlying Islands make up the remaining 200-plus islands. Hong Kong offers some excellent tourism opportunities, but is mostly known for the business and shopping prospects available at every turn – always popular with those looking for a bargain or two!

Historically Hong Kong was tied in with China, with the land serving as a largely ignored collection of fishing and farming villages, as well as the region being known as something of a haven for pirates. It wasn’t until the Opium Wars of the 19th century that the land became the subject of international interests – the Chinese powers had attempted to stamp out the British opium trade in the region, which had resulted in a British force being sent to back up the nation’s interests. By 1841 Hong Kong Island had been ceded to the British, followed by Kowloon in 1860 and finally the New Territories in 1898 – the entire region remained under British control, aside from a few years of Japanese occupation in the Second World War, until the 99-year lease on the New Territories ran out in 1997 and the British handed back control of Hong Kong to the Chinese. Terms of the handover had been negotiated in the 80s and made sure that the region would enjoy a great deal of autonomy in order to help maintain the economic interests of the country – the term ‘one country, two systems’ was adopted by the Chinese government to sum up how operations were to be carried out, and only issues relating to foreign relations and defence would be the responsibility of the Chinese. Recent history has seen Hong Kong hit by both SARS and a number of cases of avian flu – both caused short term negative effects, but the region soon regained its footing and has been constantly driving forward as something of an economic powerhouse in the South East Asian area, with the European Commission listing Hong Kong as one of the freest societies in Asia.

With the economy of Hong Kong seemingly always on the front foot, things in the region are pretty much rosy. An interesting blend of east and west makes the nation one that intrigues all those that it attracts, and is certainly an interesting place in which the potential off plan investor could put their money. The potential for growth is certainly there, and prices – though rising – are not spectacularly high, coupled with a country that serves as a nice midpoint between China and the west and you are left with somewhere that even the least adventurous investors should have an interest in.

The standards of healthcare in Hong Kong are good. Health insurance is essential, as treatment can prove very expensive.

Mobile phone coverage stretches across the country, though coverage in more remote islands cannot be guaranteed. Landlines are widely available and lines are of an excellent standard. Internet cafes are widespread throughout the region.

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