Hong Kong is a Special Administrative Region of the People's Republic of China and a cosmopolitan international city.  It is centrally located in Asia, with other major cities such as Beijing, Singapore and Tokyo all within four-hour flight.  Due to its strategic location, Hong Kong has become not only an important crossroads of the Asia-Pacific region, but also the gateway to Mainland China.

The region has a total land area of 1100 square kilometres, which is made up of the Hong Kong Island, the Kowloon Peninsula, the New Territories and a number of outlying islands.

Its climate is sub-tropical with a mild winter and a hot and humid summer.  Mean temperatures range from 15 ° C to 18 ° C during the winter months of December, January and February while mean temperatures are from 27 °C to 31°C during the summer months of June through September.  Average annual rainfall is about 2,200 millimetres of which 80% falls between May and September.

Hong Kong ceased to be a colony on 30 June 1997 after 156 years of British rule and its sovereignty reverted to the People's Republic of China (PRC).  It is now established as a Special Administrative Region (SAR) and in accordance with the Constitution of the PRC, the Basic Law was enacted assuring that the capitalist system and way of life in Hong Kong shall remain unchanged for 50 years. 

Under the Provisions of the Basic Law, the Hong Kong SAR enjoys a high degree of autonomy.  It maintains the same judicial system as previously practised, enacts laws on its own and has established its Court of Final Appeal which has the power of final adjudication.  In relation to economy and monetary affairs, the SAR has independent finances, formulates its own monetary and financial policies, safeguards free operations of business and markets, and maintains the status as an international financial centre.  The SAR practices an independent taxation system and continues to pursue a low tax policy.  The Central Government of the PRC shall not levy any tax in Hong Kong.