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hong kong: general info
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Until the middle of the 19th century, Hong Kong was a sleepy natural harbor with few inhabitants. In 1821, British merchants began to anchor ships laden with opium there, and quickly realized the commercial value of the harbor, which is sheltered and deep, on the main Far East trade avenues, with entrances to the east and west. After the Opium Wars (1839-1842 and 1856-1860), much of the region was ceded to Britain. Beginning July 1, 1898, the New Territories and 235 islands were leased to Britain for 99 years. Largely as a result of these treaties, Hong Kong developed rapidly and its population grew. Over the years, Hong Kong became increasingly known as a haven for people running away from China and as a temporary home for those emigrating from rural areas to Southeast Asia.
Before World War II, Hong Kong's economic base began to shift from trade to manufacturing. Civil war in China during the 1920s and the Sino-Japanese war in 1937 sped up the process, and masses of Chinese capitalists fled to Hong Kong. The influx of Chinese refugees increased dramatically when the Communists took control of China in 1949, and again during the upheavals of the Cultural Revolution in the 1960s.
In 1984, Britain agreed to relinquish its control over Hong Kong when its lease expired in 1997. Since July 1, 1997, Hong Kong has been a special administrative region of China, with considerable autonomy and the assurance that its existing economic and social systems will not be changed for 50 years. Today, despite setbacks during the Asian economic crisis of 1997-1998, Hong Kong's economy is rebounding, and the region remains vibrant, bustling and cosmopolitan.
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