| 90.3% free. the special administrative region (sar) of hong kong is part of the people's republic of china but retains a separate political governance structure and economic system. chief executive donald tsang has pledged to advance universal suffrage, a promise made in the territory's mini-constitution, the basic law. a british colony for more than 150 years until the 1997 transfer of sovereignty to china, hong kong retains its rule of law, simple procedures for enterprises, free entry of foreign capital, repatriation of earnings, and financial transparency. it is a major gateway for business with china. major industries include financial services, shipping, and other services. manufacturing has largely migrated to mainland china. |
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