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. This Was A Position That Has Been Aided By Its Ocean Access, Close ...

. This was a position that has been aided by its ocean access, close proximity to Hong Kong and relationship with Chinese emigrants. Furthermore, before the reformation of China's tax regime in the 1990's Guangdong's historically poor economic position gave it an advantageous taxation position.
Out of all of the Chinese provinces Guangdong, with its manufacturing and export based economy, now enjoy's the highest GDP (Gross Domestic Product), although because of its high levels of migrant workers, wage levels in the area have only recently begun to reflect this prosperous position. In 2005, the GDP in Guangdong was US$276.6 billion, representing US $2,912 per capita. This represents an annual GDP increase of 12.5% and a per capita increase of 84.7%, which means that Guangdong now provides 12% of China's economic output. (Guangdong Province, 2006).
Although historically Guangdong's local government has been known to resist central economic directives, the economic properity of the region has led to it being one of the most politically stable in China, which is probably one of the reasons that it is treated with a more relaxed attitude by central government.
Hong Kong
Hong Kong, which was a British Colony for over one and a half centuries before its sovereignty was returned to the People's Republic of China on the 1st July 1997, is now what is known as a special administrative region (SAR) of China, and as such has automatically become one of the country's the richest areas. Under the terms of the Sino-British Joint Declaration, Hong Kong retains a certain amount of autonomy for the next four decades, although China regulates and controls all diplomatic and military affairs relating to the area. This autonomy includes legal, currency, customs and immigration policies. The northern border of the country links directly with the Guangdong province. (Mintel, 2006)
In the late 1960's, Hong Kong moved away from textile and manufacturing, and more towards the financial and banking industries, which led to it establishing itself as one of the world's wealthiest areas. Its trade with China's mainland expanded when China turned Shenzhen into a special economic zone, and this has assisted Hong Kong in building a relationship with its superpower neighbour. (Wang and Sung, 2004).
As a trading and banking nation, Hong Kong is 11th and 13th largest in the world respectively, and many consider it a prime example of the free market economy (About Hong Kong 2006). Although it suffered a reduction in growth in 2003 due to the SARS outbreak, Hong Kong has latterly seen a return to its former fortunes, a position that has been significantly assisted by the relaxing of China's travel restrictions.

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