Hong Kong SAR - Overview, Origin | hong kong sar
WhatisHongKongSAR,China?HongKongSARisoneofthemetropolitanareasinthePeople’sRepublicofChina(PRC).Asapremierbusinessandfinancialcenter,HongKongisabletoretainitsmonetaryindependence,aswellasthecurrency-boardtypearrangementforitsinterchangerate.ItisbecauseHongKongmaintainsitsowngovernanceandcontroloveritseconomicanddomesticaffairsandthoseofothersurroundingareas. Becauseofitsrelativeautonomy,HongKongisreferredtoasaSpecialAdministrativeRegion(SAR).AnotherSARthatoperateswithadegreeofindependenceis...
What is Hong Kong SAR, China?Hong Kong SAR is one of the metropolitan areas in the People’s Republic of China (PRC). As a premier business and financial center, Hong Kong is able to retain its monetary independence, as well as the currency-board type arrangement for its interchange rate. It is because Hong Kong maintains its own governance and control over its economic and domestic affairs and those of other surrounding areas.
Because of its relative autonomy, Hong Kong is referred to as a Special Administrative Region (SAR). Another SAR that operates with a degree of independence is Macao SAR. According to the Census and Statistics Department (Hong Kong), Hong Kong SAR is one of the most densely populated cities in China, with a population of 7.45 million people as of 2018.
SummaryHong Kong SAR is a highly populated special administrative region of Mainland China that operates under the “One Country, Two Systems” arrangement.Hong Kong became ...