Today, one of the main financial centers of the modern world economic system is the special administrative region of the People's Republic of China, which is known as Hong Kong. The fascinating history of the autonomous state, geographical location and a rather long English protectorate made Hong Kong a powerful power that possesses, although small in size, but a significant authority on the world economic arena. Today, for 16 consecutive years, Hong Kong is officially part of China. But in fact, the influence on autonomy by the PRC is insignificant and is carried out in various indirect ways. This situation is explained by a special administrative provision assigned to Hong Kong by a carefully considered agreement between Great Britain and China on transferring the British colony to the PRC. Thus, Great Britain showed an act of goodwill, thanks to which the ethnic Chinese territories reunited, and China received a huge world financial center. Today, the process of interaction between the economies of China and Hong Kong within the same state system is a striking symbiosis of two different, even hostile, ideologies. The effectiveness of this kind of symbiosis is also striking and gives more than positive results for the economies of both countries.
Hong Kong dollars
The level of independence of this special administrative region of the People’s Republic of China is so great that it even has its own monetary unit. Hong Kong autonomy emits dollars since February 2, 1895. That is, since the time of colonization, the financial system of the special administrative region has not switched to the monetary units of China. But this, of course, does not constitute the slightest problem for people living both in the PRC and in autonomy, since the RMB and Hong Kong dollars are reliable highly liquid convertible means of exchange of values. And according to financiers, the more dispersed the capital is among the most reliable carriers, the safer it is to keep.
Hong Kong dollar exchange rate
The financial independence of the special administrative region of the People's Republic of China from mainland China is supported not only by its own internal currency system, but also by its presence on the international Forex market. Hong Kong dollars it is customary to designate the bank code HKD and the code of the international standardization organization ISO 4217. In addition, the monetary unit of autonomy tied to the US dollar according to a clearly defined framework of currency fluctuations, like most participants in the international system of floating exchange rates, including the yuan of the PRC. Which, in turn, makes this currency a means of exchanging values, subject to free conversion, regardless of the PRC policy. Today, the Hong Kong dollar to the ruble correlated by central banks of states as 1 HKD for 4.15 RUB.