Hong Kong under China after 1997: One Country, Two Systems

Abstract

On First July 1997, Hong Kong will become China's first Special Administrative Region (SAR), in accordance with Sino-British joint declaration of 1984. After midnight of 30th June, it will cease to a Crown Colony, as sovereignty possess from Britain to China. Under the terms of joint declaration signed after two years of bilateral negotiations for the next 50 years Hong Kong is to be administered according to the "one country, two systems", socialist and capitalist, within the same country. The SAR will enjoy the maximum autonomy; except foreign policy and defence, and the present capitalistic economic system is promised to be retained