Hong Kong

Hong Kong is a city and special administrative region situated in South China's eastern Pearl River Delta. It holds the status of a major global financial center and stands among the most developed cities worldwide. Initially established as a British colony in 1841 and later expanded through various events, it came under Chinese sovereignty in 1997. Hong Kong operates with its own governing and economic systems, distinct from mainland China, adhering to the "one country, two systems" principle. 

Hong Kong has transformed from a sparsely populated area into one of the world's prominent financial centers and commercial ports. With a market economy focused on services, low taxation, and free trade, it is known for its international financial market and the Hong Kong dollar, which is widely traded. The city boasts the third-highest number of billionaires globally and has a high concentration of high-net-worth individuals.  

Hong Kong is highly developed, with a robust transportation network and numerous skyscrapers. As a trading entity, it ranks among the top exporters and importers globally. While the service sector dominates the economy, Hong Kong has faced competition from other Chinese ports as mainland China's economy liberalized. Hong Kong serves as a gateway for foreign direct investment in China and has a significant presence in the offshore renminbi trading market. The city's government has generally pursued a passive role in the economy, and tourism plays a substantial role, although recent restrictions and disruptions have affected visitor numbers.  

The Hong Kong dollar serves as the official currency of the Hong Kong Special Administrative Region. The currency is pegged to the Macanese pataca at a fixed exchange rate of 1 Hong Kong dollar to 1.03 Macanese patacas. As of April 2019, the Hong Kong dollar ranked as the ninth most traded currency globally, indicating its importance in international financial markets.

The latest series of banknotes was introduced in 2018, featuring updated security features and modern designs. Additionally, commemorative banknotes have been issued to celebrate significant events such as the anniversaries of the note-issuing banks and the Olympic Games held in Beijing in 2008 and 2022.

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