Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and behavioral finance. Adam received his master's in economics from The New School for Social Research & his Ph.D. From the University of Wisconsin-Madison in sociology. He is a CFA charterholder as well as holding FINRA Series 7, 55 & 63 licenses. He currently researches and teaches economic sociology và the social studies of finance at the Hebrew University in Jerusalem." data-inline-tooltip="true">Adam Hayes
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Michael Boyle is an experienced financial professional with more than 10 years working with financial planning, derivatives, equities, fixed income, project management, and analytics.

Bạn đang xem: Hong kong sar là gì


What Is the Hong Kong SAR?

Hong Kong is the premier financial & business center in china and a regional financial leader. Hong Kong is one of China"s special administrative regions (SARs). An SAR is a relatively autonomous regions within the People"s Republic of đài loan trung quốc that maintain separate legal, administrative, và judicial systems from the rest of the country.


Hong Kong is an Asian financial hub once colonized by the British & now a semi-autonomous part of China.Special Administrative Regions (SARs) exist as relatively autonomous portions of a country that maintain some degree of political & economic independence.Because of their history of independence & colonization, SARs such as Hong Kong may find themselves in conflict with the political authority of China.

Breaking Down Hong Kong SAR, đài loan trung quốc

Hong Kong is a special administrative region (SAR) that exists as part of the People’s Republic of đài loan trung quốc under the “One Country, Two Systems” doctrine, negotiated in the Sino-British Joint Declaration, negotiated & signed in 1984, but taking effect in 1997. The "One Country, Two Systems" doctrine stipulated that the People's Republic of China's socialist system would not be practiced in Hong Kong, and Hong Kong would maintain its political and economic quasi-independence for 50 years after the transfer of sovereignty, until 2047.


What does that mean? Since July 1, 1997, when the United Kingdom transferred sovereignty ofHong Kong to China, Hong Kong has maintained a separate political and economic system from China—democratic(ish), & capitalist—anda separate currency (the Hong Kong Dollar, HKD$).Hong Kong retainsindependent executive, legislative and judiciary powers, in all matters other than military defense and foreign affairs. English và Chinese are the two official languages.

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Hong Kong's Economy

Hong Kong hasbeen ranked as the world"s freest economy in the Heritage"sIndex of Economic Freedomsince the index"s inception in 1995. In 1990, Milton Friedman wrote that it was perhaps the best example of a free market economy. The service economy in Hong Kong is characterized primarily by low taxation, near không tính phí port trade, and a well established international financial market. Service economy, here, meaning an economy that is not industrial, or manufacturing based, but is instead based in financial services, health, & human services, hospitality, information technology, etc.


And using its political and economic autonomy, Hong Kong has positioned itself as the place where international & Chinese businesses find common ground. It is also considered the principal financial center in China. As a result, more than 1,300 companies from all over the world are headquartered in Hong Kong.


This democratic government and the miễn phí market has been successful, lớn some extent. It's the world's 33rd largest economy with a population smaller than the city of Tokyo, at 7.34 million. Hong Kong has an annual GDP of $320.9 billion, giving it the world's 17th highest GDP per capita, at $43,681.


Hong Kong and China's Tension

Historically, trung quốc has had considerable incentive to refrain from interfering in Hong Kong's political & economic systems. At the transfer of sovereignty in 1997, Hong Kong, with a population of 6.5 million at the time, had an economy one fifth the kích cỡ of the Chinese economy, with its population of 1 billion.


This is no longer the case. Over the past đôi mươi years, Hong Kong's economy has stagnated, changing very little in makeup, with GDP growth slowing, & inequality rising significantly. In that same time, đài loan trung quốc has become an economic superpower. Hong Kong now accounts for just 3% of Chinese GDP. 


Some think that the greatest risk khổng lồ Hong Kong's autonomy is political and business elites in the region ceding it to the Liaison Office, lớn remove political tensions from the region, & return Hong Kong to lớn an economic city. This may prove a poor decision though, as a marriage of business và government has proven counterproductive in Hong Kong, leading to lớn an increase conflicts of interest và cronyism, not to mention a non-responsive government, that refuses lớn broaden its tax base, or lower property taxes, & has excluded political parties from democratic participation. All of this has led to lớn a public perception of the Hong Kong SAR government as not as legitimate as it once was.


Given these recent trends, the Liaison Office, the People's Republic of đài loan trung quốc representative in Hong Kong, has been taking steps to lớn meaningfully increase its influence and clout in the region, interfering in both domestic affairs và elections. For example, the Liaison Office provides loans, bought Hong Kong's largest publishing house (removing titles critical of the Communist Party), và lobbied for Hong Kong's new chief executive, Carrie Lam.