Hong Kong became a Special
Administrative Region of the People's
Republic of China (PRC) on July 1, 1997.
The Basic Law of the Hong Kong Special
Administrative Region (HKSAR) came into
effect on the same day. The Basic Law
prescribes the systems to be practised
in the HKSAR. Under the Basic Law,
the HKSAR enjoys a high degree of autonomy
except in those matters relating to defence
and foreign affairs and other matters
outside the limits of Hong Kong's autonomy.
Under the Basic Law, the HKSAR exercises
executive, legislative and independent
judicial power, including that of final
adjudication. The HKSAR's executive authorities
and legislature are composed of permanent
residents of Hong Kong. The HKSAR remains
a free port, a separate customs territory
and an international financial centre
and may, on its own, using the name 'Hong
Kong, China', maintain and develop relations
and conclude and implement agreements
with foreign states and regions and international
organisations in the appropriate fields,
including the economic, trade, financial
and monetary, shipping, communications,
tourism, cultural and sports fields. |