One Country, Two Systems
“One country, two systems” is the bedrock of Hong Kong’s stability and continued success since the establishment of the Hong Kong Special Administration Region (HKSAR) of the People’s Republic of China (PRC) on 1 July 1997.
Under the principle of “One Country, Two Systems”, Hong Kong retains its independent immigration, monetary, fiscal and taxation systems. As a free port, it also has a separate, independent customs territory. For that it has no restriction on foreign ownership or on the movement of capital, talent, goods and information, Hong Kong is one of the world's most competitive economies. The city plays a pivotal role in the internationalisation of the Renminbi and the opening up of the Mainland’s financial markets and is the world’s largest offshore RMB hub.
Hong Kong will benefit from deepening reform in the Mainland towards a consumption and services-oriented economy, and opportunities related to the Belt and Road Initiative and the Guangdong-Hong Kong-Macao Greater Bay area, while maintaining a unique economic and legal system different from the Mainland China.
The city provides strong intellectual property protection and enjoys independent participation in international forums. Among all the jurisdictions that practise common law, Hong Kong is the only market that truly applies a bilingual system with both Chinese and English as our official languages. This provides a unique legal and judicial system for international and Mainland family offices.
“ Hong Kong is the most open and international city in the region which has a unique social, economic and legal system under ‘One Country, Two Systems. ”
Chief Executive, Chong Hing Bank