Hong Kong today officially consists of Hong Kong Island, Kowloon Peninsula, and the New Territories (this includes 262 outlying islands). From a count of some 6,000 residents in 1841, Hong Kong has exploded to become home to a population of over seven million people, making it one of the most densely populated areas in the world. All has not remained the same however as after 156 years of British rule,… sovereignty over Hong Kong was transferred back to China on July 1, 1997. Following PRC paramount leader Deng Xiaoping's idea of "one country, two systems", Hong Kong Special Administrative Region of the People's Republic of China currently enjoys a high degree of autonomy and will continue to function in a capitalist system for 50 years (until year 2047), even while mainland China follows a socialist system.