Strengths of Hong Kong
Legal Protection
Hong Kong's current legal system, independent of the legal system of mainland China and Chinese civil law, inherits from British Common Law established before 1997. The guiding principle is an independent judicial system in which the Rule of Law, as opposed to Rule by Law, safeguards judicial courts from government intervention. According to the Hong Kong's Basic Law, all Hong Kong residents shall be equal before the law. The HKSAR shall protect the right of private ownership of property in accordance with law. The freedom of the person of Hong Kong residents shall be inviolable.
Freedom of Traveling
Hong Kong residents enjoy high degree of freedom to travel and to enter or leave the territories and the Hong Kong SAR Passport enjoys visa-free in more than 140 countries, including, Canada, France, Germany, Italy, Swiss, England, Finland, Japan, Singapore, South Korea, etc.
Freedom of Investment
As one of the world's leading international financial centres, Hong Kong has a major capitalist service economy characterised by low taxation and free trade. The currency, Hong Kong dollar, is the eighth most traded currency in the world as of 2010. It maintains a highly developed capitalist economy, ranked the freest in the world by the Index of Economic Freedom every year since 1995. The Hong Kong Government has traditionally played a mostly passive role in the economy, with little by way of industrial policy and almost no import or export controls. Market forces and the private sector were allowed to determine practical development.Under the official policy of "positive non-interventionism", Hong Kong is often cited as an example of laissez-faire capitalism.
Simple Taxation System
Hong Kong Government has adopted a low tax rate policy and simple taxation system. It facilitates and enhances all kinds of commercial activities. Only profits sourced in Hong Kong would be taxable whereas their worldwide income will not be taxable.
Hong Kong Profits Tax is a tax levied on the net profits on business. Companies and individuals (sole proprietor) carrying on business in Hong Kong will be chargeable to Profits Tax given that the profits are sourced in Hong Kong.
For the fiscal year 2014/15, the Profits Tax rate is 16.5% for companies and 15% for individual sole proprietors. Net total income at standard rate is 15 % for Salary tax.
Facilities and Universal Education
Hong Kong's education system used to roughly follow the system in England, although international systems exist. The government maintains a policy of "mother tongue instruction" in which the medium of instruction is Cantonese, with written Chinese and English, while some of the schools are using English as the teaching language. In secondary schools, 'biliterate and trilingual' proficiency is emphasised, and Mandarin-language education has been increasing. The Programme for International Student Assessment ranked Hong Kong's education system as the second best in the world.
Hong Kong's public schools are operated by the Education Bureau. The system features a non-compulsory three-year kindergarten, followed by a compulsory six-year primary education, a compulsory three-year junior secondary education and three years of compulsory senior secondary education. There is only one public examination, namely the Hong Kong Diploma of Secondary Education.
Most comprehensive schools in Hong Kong fall under three categories: the rarer public schools; the more common subsidised schools, including government aids-and-grant schools; and private schools, often run by Christian organisations and having admissions based on academic merit rather than on financial resources. Outside this system are the schools under the Direct Subsidy Scheme and private international schools.
Hong Kong has 20 degree-awarding higher education institutions, including eight public and eleven self-financing Institutions, the oldest being the University of Hong Kong (HKU), established in 1910–1912. The Chinese University of Hong Kong was founded in 1963 to fulfill the need for a university with a medium of instruction of Chinese. Competition among students to receive an offer for an undergraduate programme is fierce as the annual number of intakes is limited, especially when some disciplines are offered by select tertiary institutions, like medicine which is provided by merely two medical schools in the territory, the Li Ka Shing Faculty of Medicine at the University of Hong Kong and the Faculty of Medicine of the Chinese University of Hong Kong. In addition to the public post-secondary institutions there are also a number of private higher institutions which offer higher diplomas and associate degree courses for those who fail to enter a college for a degree study so as to boost their qualification of education, some of whom can have a second chance of getting into a university if they have a good performance in these sub-degree courses.
Perfect Medical System
There are 13 private hospitals and more than 40 public hospitals in Hong Kong. There is little interaction between public and private healthcare. The hospitals offer a wide range of healthcare services, and some of the territory's private hospitals are considered to be world class. According to UN estimates, Hong Kong has one of the longest life expectancies of any country or territory in the world. As of 2012, Hong Kong women are the longest living demographic group in the world.
There are two medical schools in the territory, one based at the Chinese University of Hong Kong and the other at the University of Hong Kong. Both have links with public sector hospitals. With respect to postgraduate education, traditionally many doctors in Hong Kong have looked overseas for further training, and many took British Royal College exams such as the MRCP(UK) and the MRCS(UK). However, Hong Kong has been developing its own postgraduate medical institutions, in particular the Hong Kong Academy of Medicine, and this is gradually taking over the responsibility for all postgraduate medical training in the territory.
Good Living Environment
In many years, Hong Kong is deemed as one of the safest city in the world and a decent place for living. Residents of Hong Kong are complied with Laws. In addition, the law enforcement departments are highly professional. Therefore, the crime rate is maintaining in a very low level with high detection rate.
Shopping Paradise
Hong Kong is a worldwide famous shopping paradise. Shopping is a widely popular social activity in Hong Kong. There has not draw any duties, sales taxation, or import taxation in most products. Only specific import goods such as alcohol, tobacco, perfumes, cosmetics, cars and petroleum products have associated taxes. You may easily find any kind of products, from worldwide famous brand products to daily living products in Hong Kong.
