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Many foreign firms began to relocat their offices from Shanghai to Hong Kong, together with the Skills and capital brought by refugees of Mainland China, Hong Kong transformed from a territory of entrepôt trade to one of industry and manufacturing.
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1950s iin Hong KongThe Shek Kip Mei fire left 53,000 homeless. Then the 22nd Goveernor of Hong Kong introduced the "multi-storery building" as a common building form.
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The manufacturing industry opened a new decade employing large sections of the population. The period is considered a turning point for Hong Kong's economy. The construction business was also revamped with new detailed guidelines for the first time since World War II.
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Murray McLehose founded the Independent Commission Against Corruption, in order to combat corruption within the police force. Despite early opposition to the ICAC by the police force, Hong Kong was successful in its anti-corruption efforts, eventually becoming one of the least corrupt societies in the world.
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The British Prime Minister, Margaret Thatcher, hoped that the increasing openness of the PRC government and the economic reform in the mainland would allow the continuation of British rule. The resulting meeting led to the signing of Sino-British Joint Declaration and the proposal of the One country, two systems concept by Deng Xiaoping. Political news dominated the media, while real estate took a major upswing.
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On 1 July 1997 Hong Kong was handed over to the People's Republic of China by the United Kingdom. The old Legislative Council, elected under Chris Patten's reforms, was replaced by the Provisional Legislative Council elected by a selection committee whose members were appointed by the PRC government. Tung Chee Hwa, was elected as the first Chief Executive of Hong Kong.
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Between November 2002 and July 2003, an outbreak of SARS in southern China caused an eventual 8,273 cases and 775 deaths reported in multiple countries with the majority of cases in Hong Kong.[1] (9.6% fatality rate) according to the World Health Organization (WHO).[2] Within weeks, SARS spread from Hong Kong to infect individuals in 37 countries in early 2003
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Article 23 became a controversy, and led to marches in different parts of Hong Kong with as many as 750,000 people out of a population of approximately 6,800,000 at the time.
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Hong Kong Disneyland is located on reclaimed land in Penny's Bay, Lantau Island. It is the first theme park located inside the Hong Kong Disneyland Resort and is owned and managed by the Hong Kong International Theme Parks. It is, together with Ocean Park Hong Kong, one of the two large theme parks in Hong Kong.
