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It was during an official handover ceremony at the Centre where, after 156 years of British rule, sovereignty over Hong Kong was officially transferred back to China on July 1, 1997. The balance of power had once again shifted in the world. Following PRC paramount leader Deng Xiaoping's idea of "one country, two systems",… |
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Hong Kong Special Administrative Region of the People's Republic of China currently enjoys a high degree of autonomy and is allowed to continue functioning in a capitalist system for 50 years (until year 2047), even while mainland China itself follows a socialist system. |
