After the First Opium Conflict, China ceded Hong Kong to the UK ‘in perpetuity’ beneath the 1842 Treaty of Nanking. After the Second Opium Conflict, it ceded the Kowloon peninsula, north of Hong Kong, beneath the 1860 Conference of Peking, likewise ‘in perpetuity’. The 1898 Conference for the Extension of Hong Kong Territory included a 99-year lease on what grew to become generally known as the New Territories, which included the islands round Hong Kong and Kowloon.
All these territories, by then too carefully built-in to be separated, had been returned to China in 1997, beneath the 1984 Sino-British Joint Declaration signed by Deng Xiaoping and Margaret Thatcher. Hong Kong grew to become China’s first Particular Administrative Area; Macao, handed again by Portugal in 1999, grew to become the second. China agreed to keep up Hong Kong’s financial and authorized (frequent regulation) programs for 50 years (till 2047).
After the handover, Hong Kong was certainly initially ruled by the Primary Regulation. This de facto structure was drafted within the late Eighties by representatives of the Chinese language and Hong Kong governments. It (…)
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(2) It ranges from 0 (the place everybody receives an equal share of earnings) to 1 (the place just one individual or group receives all of the earnings).
(3) Demographia Worldwide Housing Affordability, 2022 version, March 2022.