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Economy of Hong Kong
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The economy of Hong Kong is a highly developed free-market economy. It is characterised by low taxation, almost free port trade and a well-established international financial market. Its currency, called the Hong Kong dollar, is legally issued by three major international commercial banks, and is pegged to the US dollar. Interest rates are determined by the individual banks in Hong Kong to ensure that they are market driven. There is no officially recognised central banking system, although the Hong Kong Monetary Authority functions as a financial regulatory authority.
Central and Victoria Harbour of Hong Kong
Central and Victoria Harbour of Hong Kong
Housing in Hong Kong
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Housing in Hong Kong varies by location and income. More than 7 million people live on about 1,108 km2 (427 mi2) of land in the region, making it one of the densest places in the world.
29.1% of the Hong Kong population lives in public rental housing estates. Kin Ming Estate, completed in 2003, is a public housing estate located in Ts
29.1% of the Hong Kong population lives in public rental housing estates. Kin Ming Estate, completed in 2003, is a public housing estate located in Tseung Kwan O. It consists of 10 housing blocks and houses a total of about 22,000 people.
Private housing estates are a common form of private permanent housing. Hong Kong Parkview, located at Wong Nai Chung Gap is among the ones at the top
Private housing estates are a common form of private permanent housing. Hong Kong Parkview, located at Wong Nai Chung Gap is among the ones at the top of the market.
Traditional housing can be found in the New Territories. Some villages have been occupied for over 200 years. Here, the entrance gate of Nam Pin Wai,
Traditional housing can be found in the New Territories. Some villages have been occupied for over 200 years. Here, the entrance gate of Nam Pin Wai, a walled village in Yuen Long Kau Hui.
Urban settlements on Hong Kong Island, Kowloon and some former market towns in the New Territories were mostly developed during the 19th and 20th cent
Urban settlements on Hong Kong Island, Kowloon and some former market towns in the New Territories were mostly developed during the 19th and 20th centuries. Tong-laus, the local form of shophouses, built mostly in the first half of the 20th century, are witnesses of this development.