Tuesday, December 24, 2019

Hong Kong and Macau, two affluent Chinese SARs'

Today’s piece/story will discuss Hong Kong and Macau. These two cities are two special administrative regions (SAR) of China. Both of these two regions are situated within the People's Republic of China. Both of them maintain separate legal, administrative and judicial systems from the rest of the country. Lastly, both of them have the highest degree of autonomy. Firstly, Hong Kong is the only SAR which G. Ripley has experienced. The city was a British territory until 1997, when the handover of Hong Kong went to China. The city has a population of 7.44 million residents. Hong Kong’s currency is the Hong Kong dollar, which is the ninth most traded currency in the world. Hong Kong’s official main script is traditional Chinese, while the two main languages spoken in HK are English and Cantonese. The Stock Exchange of Hong Kong limited is based in Hong Kong, and it is the world’s fourth largest single stock market. Next, Macao is the name of the SAR in simplified Chinese while Macau is the Portuguese [or original] spelling. Macau was under Portuguese rule until 1999, when the handover to the Chinese happened. Its population is more than 620,000 residents; which is less than 10% of the population of HK. Macau’s currency is the Macanese pataca. Its official languages are Cantonese and Portuguese. The city is called ‘the Las Vegas of Asia’; as many well-known casino hotels like the Venetian and the Wynn are located in it. In contrast, Hong Kong is known as the ‘fragrant harbour’ and 'vertical city;' due to its density of skyscrapers. HK’s largest skyscraper is the International Commerce Centre, which is the ninth tallest building in the world measured by number of floors. This monolithic building stands at 488 m (1,588 ft). Hong Kong’s stock exchange is the world’s top IPO market for the 2nd consecutive year, passing the New York Stock Exchange (NYSE). Hong Kong ranks in the top 5 for global financial centers of the world, according to global financial centers index (GFCI). Hong Kong has two major theme parks: Universal Studios and Disneyland. Back to Macau, the city is in the top five for the title of ‘wealthiest territory on earth.’ With its population lower than 700,000 residents, the city is called as ‘the most densely populated territory on earth.’ Macau was the last European colony in China. The city’s vast restaurants are home to the world’s first fusion cuisine. Macau’s profitable casino industry accounts for 80% of its economy. It is the only place in China, in which gambling is legal. Recently, Hong Kong is a city replete with protests staged by different groups. These people of all ages are protesting against the city’s proposed extradition bill. Police and protesters are clashing in the streets, and even at Hong Kong international airport. Many people demand the scrapping of the proposed amendments to the extradition bill. In June 2019, police shot bullets and tear gas during one of the city’s largest and most violent protests in decades. Of the two SAR’s, Macau is considered to be the good kid by the Chinese government. Protests have escalated in HK, for more than six months of this year. As this story ends, tourism numbers in Hong Kong may decrease due to the rising political tensions. Are Hong Kong and Macau on your list of travel destinations to see? Enjoy the picture above of the skylines, of Hong Kong and Macau. Tchau!

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