General Information - Hong Kong | Interstatus - Group of Companies General Information – Hong Kong – Interstatus – Group of Companies

General jurisdiction information:

Hong Kong (or Xiangang which means “the Fragrant Harbour”,) is a Special Administrative Region of the People’s Republic of China with autonomous executive, judicial and legislative powers. It is situated in the South China Sea and borders continental China. Today Hong Kong is one of the leading “Asian Tigers” and, according to National Geographic, it is the third largest financial centre of the world and the eleventh major industrial zone with a dynamic economy and the biggest port in Asia with 7,000 ships berthing there.

Hong Kong is renowned worldwide for its stock exchange established in the 19th century that boasts capitalisation of $2,960,000,000,000 (as of 2014) with, among many other sectors of the economy, strong trade and manufacturing and a film-making industry.

Hong Kong has well deserved its reputation as one of the leading offshore centres supported by a high rate of liquidity of financial institutions and markets. Its diverse range of services for local and international businessmen and strict adherence to the city state government’s financial policies is highly praised by the international community. The main feature of the New Hong Kong Companies Ordinance (Law) passed on 3rd March 2014 is the simplification of business practises for companies incorporated in Hong Kong and the establishment of a system of law aimed at enhancement of the contemporary business environment.

The official currency is the Hong Kong Dollar (HK$).

The two official languages of the country are Cantonese Chinese and English. The city has a vast continental Chinese community as well as ethnic Indians, Pakistanis and Nepalese that have lived there for many generations. There is also a large number of North American, Japanese and European descendants making the city truly cosmopolitan.

Legally a part of China, this former British colony maintains its own laws invariably interpreted for the benefit of society and the business community. The country enjoys the rights and liberties characteristic of a developed democracy.