Corruption In Hong Kong

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When Hong Kong was returned to China on 1st July 1991, she was renamed Hong Kong Special Administrative Region of the People's Republic of China. A place where the eastern culture meets the west, Hong Kong is a synergy of ethnicity and foreign practice. Under the principle of 'one country, two systems', which gives the city a high level of autonomy, Hong Kong government is responsible for its own functionality such as its own legal system, police force, customs and immigrations policies, which is based on the English common law. Thus it differs greatly from the legal system maintained in Mainland China. Mandarin is the official language of Hong Kong, as well as English which was spoken by one-third of the population. However most of its…show more content…
Hong Kong also received recognition for their ability to attract inward foreign direct investment. The widely respected Independent Commission Against Corruption (ICAC) bureau in Hong Kong was set up to prevent, educate and investigate corruption within Hong Kong, adhering to the state's zero-tolerance policy on corruption. With Government and community support, Hong Kong is now among the least corrupt places in the world, rating above the US and Japan. Because of various reasons as discussed above such as political and social stability, strong economic growth, robust legal system, increase in foreign direct investments in research and development bringing technological advancement, Hong Kong provides for a conducive business environment. While both Hong Kong and Singapore rank highly on the global list for doing business, Hong Kong had for years been the frontrunner in the field of fashion and luxury goods industry. Attracted by the enormous appetite of the Mainland Chinese for luxury goods, many international well known brands such as Gucci, LV,MH and Coach had opened stores in Hong…show more content…
But they are also mindful of the importance of hierarchy. After all, it is a place with its rich Chinese culture and its rule for 155 years by the British, the birthplace of Industrial Revolution. Hong Kong business culture emphasize on hierarchy. A system of behaviours and ethics that stress the obligations of people towards one another based on their relationship, it stresses duty, loyalty, honour, respect for seniority and age. When introduced to a group of people, it is important to greet and address the most senior person first by their title and surname, and always treat them with courtesy. Physical contacts between the Chinese are not usual unlike the western people, thus should not go beyond the usual handshake. In Hong Kong business culture, being well-prepared for the meeting and to support everything you present with some facts and figures is extremely important, as it could leave a good impression in your business partners and potentially clinch a

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