1980s in Hong Kong
Encyclopedia : 1 : 19 : 198 : 1980s in Hong Kong
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The 1980s in Hong Kong is an important part of Hong Kong history as it underwent rapid economic development that led directly to its international recognition and economic leadership in Asia.
Contents
Politics
Transfer of the sovereignty of Hong Kong
In 1984, the Sino-British Joint Declaration was signed, and the transfer of sovereignty back to the PRC government was first agreed. (See [original text])
Economy
Hong Kong's economy was based on the development in the 1970s, in which it started transforming itself from industrial centre to economic centre. Hong Kong became an economic centre in Asia, due to the freedom (in comparison to the closed portion of mainland China) and stability (in comparison to the political instablility and civil wars in mainland China). The sound law system, lack of foreign exchange control and low tax also contributed to the competitiveness of Hong Kong.Social movements
Natural disasters
In 1983, Typhoon Ellen came to Hong Kong and caused serious damage. It was so fierce that the Hong Kong Observatory hoisted the Typhoon Signal No.10 (highest warning level), which was the only occurrence in the 1980s.
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