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Hong Kong is characterised to be a hybrid of East and West. Standard Chinese values emphasising family and schooling Mix with progressive Western beliefs, like financial liberty as well as the rule of law.[240] Although the vast majority with the population is ethnically Chinese, Hong Kong has created a distinct id. The territory diverged through the mainland on account of its long duration of colonial administration and another pace of economic, social, and cultural enhancement.

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The defeated Qing have been again pressured to give up land, ceding Kowloon Peninsula and Stonecutter's Island from the Convention of Peking.[seventeen] By the tip of this war, Hong Kong experienced progressed from a transient colonial outpost into a major entrepĂ´t. Swift economic improvement over the 1850s attracted overseas investment, as potential stakeholders became far more assured in Hong Kong's upcoming.[56]

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Quickly after the transfer, Hong Kong was severely influenced by numerous crises. The federal government was pressured to use sizeable international-Trade reserves to maintain the Hong Kong greenback's forex peg during the 1997 Asian money crisis,[64] and the recovery from this was muted by an H5N1 avian-flu outbreak[seventy three] plus a housing surplus.

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