Hong Kong, High-rises and High Prices
By René Schwab, Insight China Delegate
After two very instructive and fascinating weeks in China we reached Hong Kong by high speed train from our previous destination Shenzhen . Until 1997 Hong Kong was a British colony and since then a special administrative zone of the People’s Republic of China with a free market economy and a high degree of internal autonomy. Up to 7.5 million people live on an area of 1,106 km² in Hong Kong, which corresponds approximately to the size of the canton of Uri. As a result of the very limited space in Hong Kong, prices for real estate are very high and therefore the costs of living are very high as well.