The Basic Law (BL) is the constitutional document of the Hong Kong Special Administrative Region (HKSAR). It enshrines within a legal document the important concepts of “One Country, Two Systems.” Under this principle, socialist policies of mainland China are not practiced in Hong Kong.
The Basic Law provides the guarantees to maintain Hong Kong’s existing way of life, including socioeconomic development, the rights and duties of Hong Kong people, the rule of law and other areas.
The Basic Law was put into effect July 1, 1997.
Yes. Hong Kong welcomes and encourages the participation of foreign enterprises and provides a level playing field for all. There are no foreign exchange controls in Hong Kong and no restrictions on the trading of gold, securities or futures. The Basic Law stipulates that Hong Kong shall maintain the status of a free port, pursue the policy of free trade and safeguard the free movement of goods, intangible assets and capital. (BL Articles 112; 114; 115)
Yes, very much so. Hong Kong has autonomy in immigration control and remains a separate customs territory. It maintains its own immigration laws and procedures and has a very liberal visa policy, which allows visitors from more than 170 countries or territories visa-free access to Hong Kong for periods ranging from one week to six months. (BL Articles 116; 154; 155)
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