THE HISTORY

Today, Hong Kong belongs to China, with its own political system, currency, and a shared cultural identity specific to the area. Hong Kong, once a colony as well as a territory, belonged to the United Kingdom for over 150 years, until it was officially transferred back to China in 1997. In 1898, the British government essentially signed a 99-year lease for the territory. However, the transfer of ownership was largely disputed between then Chinese Premier Deng Xiaoping and British Prime Minister Margaret Thatcher, resulting in a policy popularly known as “one country, two systems,” otherwise known as the Hong Kong Basic Law. The deal promises to give Hong Kong “a high degree of autonomy” for 50 years, set to expire in 2047. The establishment of the Basic Law gives Hong Kong freedoms unimaginable by the Chinese mainlanders, including freedom of speech, the right to protest and to develop its own democracy. Because of this unique status, Hong Kong formally became a “special administrative region” of the People’s Republic of China. In short, China vowed not to impose its government on Hong Kong, allowing Hong Kong to maintain its former capitalist system and to safeguard its residents’ freedoms.