The Hong Kong Special Administrative Region (HKSAR) of the People’s Republic of China (PRC) was established on July 1, 1997. Under the principle of “One Country, Two Systems”, Hong Kong’s previous capitalist system and way of life shall remain unchanged for 50 years and the HKSAR will be run by Hong Kong people. The HKSAR enjoys a high degree of autonomy except for the foreign and defence affairs.

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