Hong Kong

Hong Kong is an autonomous territory, officially referred to as Hong Kong Special Administrative Region of the People's Republic of China, located in East Asia, on the Chinese province of Guangdong. The territory has over 7.3 million residents, making it the fourth most-densely populated region in the world.

Hong Kong maintains a separate political and economic system from China, under the “one country, two systems,” principle. Apart from the areas of military defense and foreign affairs, Hong Kong has independent executive, legislative, and judiciary power, from those of China. The region is actively involved in organizations like the Asia-Pacific Economic Cooperation and WTO.

The territory is considered one of the world’s most significant financial centres, as it possesses the highest financial development index score; further, Hong Kong consistently ranks as one of the most competitive and freest economies in the world. The most skyscrapers in the world are located in the territory, and with the highest life expectancy in the world, Hong Kong ranks highly in the Human development index rankings.

As a special administrative region of China, Hong Kong is led by an executive-parliamentary government which is modeled after the Westminster System. The Chief Executive serves as the head of the government, and the central government provides oversight of the regional government. The judicial system in the territory is derived from the common law system in English Law; Chinese national laws typically don’t apply to the territory. The Department of Justice handles legal matters for the government, and is in charge of providing legal advice, civil representation, criminal prosecution, legal/policy drafting, and international judicial cooperation with other jurisdictions.

The territory is based on a capitalist mixed service economy. Low taxation, minimal government market intervention, and established international markets govern this economy. Hong Kong is the 33rd largest economy in the world based on nominal GDP, and has the seventh largest Stock Exchange in the world. As an import centre for international finance and trade, the territory also has one of the greatest concentrations of corporate headquarters in Asia-Pacific. The territory is the seventh largest trading region (export and imports), and is one of the largest manufacturing economies in Asia.

The National Law Review covers news, stories, and the latest topics related to Hong Kong and Asia-Pacific. From energy news, to water sanitation and pollution control, the site provides readers up to date legal articles on these, and other developments. Cryptocurrency transactions and data news, CFIUS and international contracts, immigration, IP development, and the latest legislative and regulatory news from Hong Kong, are found on the National Law Review.