Hong Kong Economy

PEOPLE OF HONG KONG

The Hong Kong natives are known for their strong ethics and are efficient workers who put in lot of efforts in whatever task they are assigned with. Hong Kong is a diverse land with innumerable religion thriving in where one may come across strong societal bonding. The people of Hong Kong are hardworking, adjustable, well cultured and knowledgeable along with being industrialist in nature.

The religions thriving within the area are:

•  Buddhism, from India,

•  Taoism and,

•  Confucianism from China.

Taoism religion carries the principle of 'tao' (the pathway), and 'wuwei' (submissiveness and obedience). Confucianism was acclaimed in the northern regions of China, which is based on the philosophy of living and existing. Buddhism made its origin in the Indian Territory but monks who voyaged from India through the Silk Road established the religion in China. The natives even indulge in ancestral reverence by honoring their dead and departed ancestors. All the major religions seem to flourish within the area.

The people value money a lot, and for them they value each and every minute, which is precious for them. The city in no way sleeps, and as being a major trading port has attracted innumerable tourist to the region.

The population of Hong Kong consists of 90 percent of Chinese in the form of Cantonese residing within the Mainland China area. The other groups residing here are:

•  The Cantonese are hostile in nature when they are offended.

•  Hakka are the next generation of Chinese dwelling in the region who are supposedly the oldest landowners.

•  Hoklo and Tanka are considered as a 'boat people' who reside along the waters next to Aberdeen, Yau Ma Tei, and other typhoon based refuge.

•  Shanghainese and Chiu Chows Fuzhou carry a shrewd business skills reside within this province.

ARTS, CULTURE AND MUSIC OF HONG KONG

Art: Visit The Hong Kong Museum of Art, known to retain the cultural heritage of the region along with displaying the art of international standards within the area. Watch out for age-old Chinese objects made out of bronze and ceramics along with paintings at the University Museum and Art Gallery of Hong Kong (UMAG).

Culture: The culture of Hong Kong is mainly influenced by the Chinese traditions. Several Chinese celebrations are hosted here, among which the most celebrated one being The Chinese New Year, Ching Ming Festival, Modern Winter Solstice, Dragon Boat Festival and Mid-autumn Festival. Lion dance is something quite auspicious for the native residing here that carries along the significance of good luck. It is said when this lion dance is undertaken close to a house or a shop, it is customary to return them with a red packet containing sufficient cash in lieu to it. The MK Culture that originated from Mong Kok is based on the custom of dressing that attracts several younsters. The people indulge in tea drinking celebration along with offering a cup of it to the guests visiting a native's house.

Music: Cantopop is the most popular type of pop music celebrated within the region that is delivered in Cantonese. Cantonese opera has a significant place in the location. The Hong Kong Philharmonic Orchestra is quite popular within the area.

It was during the reign of late Southern Song Dynasty, the Cantonese opera seem to have imported from the northern region of China, ultimately leading to the Guangdong province. Operas that are carried on till date are The Purple Hairpin and Rejuvenation of the Red Plum Flower that came up during the Yuan Dynasty, that was conversed in Cantonese language. Singers from Taiwan brought about the music of Mandarin pop. Karaoke was widely accepted within the region, which was brought in by the Japanese.

FLAG OF HONG KONG

The flag of Hong Kong was officially accepted in the month of 16 February 1990 and was hoisted on 1 July 1997. The flag of Hong Kong is designed with a white colored five-petal flower named Bauhinia blakeana, which is even called as the Hong Kong orchid tree that is placed in the middle of the flag behind a red background. The color red corresponds with the flag color of the People's Republic of China. The flag carries a wonderful cultural, political and regional significance, wherein the color red plays an important role in the lives of the Chinese traditions and culture and relates well to their festive celebration and patriotism. The People's Liberation Army was once called as the Chinese Red Army. The concurrence of the red and white color harmonizes well on the flag, denotes the presence of two political principles within the country.

ECONOMY OF HONG KONG

Hong Kong is known as the world's largest trading economy that stands in the eleventh position. The place has the largest foreign exchange market and stands sixth in its position. It even holds the 13 th position for having the largest banking center while having the second biggest stock market in Asia.

It is even ranked in the 10 th position while being the largest exporter of services especially in the sectors of civil aviation, trade services, shipping, travel and tourism, financial and banking services.

There are about 3 800 international business firms with local headquarters placed in region of Hong Kong. The prevalent firms are wholesale, retail and import; business services like accounting, advertising and legal, export trades, finance and banking, manufacturing, transport and others.

The region carries out free trade, autonomy of asset movement, unshakable rule of law, translucent regulation policies, expected taxation, moderate investment theory, stabilized monetary structure, along with no opposition towards the overseas investors.

The resourceful and well-organized government structure believes in carrying out highest amount of help with minimum interferences while growing the industrialist sector and companies within the region. The telecommunication industry and the information technology support the financial and commercial sectors of the region. A wide development in the foreign trade could be possible in the region through the harbor placed within the region. The main partners in trading being countries like Mainland China, the United States, Japan, Taiwan, Germany, Singapore, and South Korea.

The country was once severely affected with the terrorist invasion in US along with the outburst of SARS, wherein the province witnessed major downfall in its economy sector.

• The goods that are imported are foodstuffs, transport equipment, raw materials, semi manufactures and petroleum.

• Exported goods being commodities like clothing, textiles, watches, clocks, toys, plastics, footwear, electrical appliances and precious stones.

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