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Background Occupied by the UK in 1841, Hong Kong was formally ceded by China the following year; various adjacent lands were added later in the 19th century. Pursuant to an agreement signed by China and the UK on 19 December 1984, Hong Kong became the Hong Kong Special Administrative Region (SAR) of the People's Republic of China on 1 July 1997. In this agreement, China promised that, under its "one country, two systems" formula, China's socialist economic system would not be imposed on Hong Kong and that Hong Kong would enjoy a high degree of autonomy in all matters except foreign and defense affairs for the next 50 years. Population 7,089,705 (July 2010 est.) Government type none (special administrative region of China) Administrative divisions limited democracy Independence National Day (Anniversary of the Founding of the People's Republic of China), 1 October (1949); note - 1 July 1997 is celebrated as Hong Kong Special Administrative Region Establishment Day International organization participation red with a stylized, white, five-petal Bauhinia flower in the center; each petal contains a small, red, five-pointed star in its middle; the red color is the same as that on the Chinese flag and represents the motherland; the fragrant Bauhinia - developed in Hong Kong the late 19th century - has come to symbolize the region; the five stars echo those on the flag of China Economy - overview Market value of publicly traded shares textiles, clothing, tourism, banking, shipping, electronics, plastics, toys, watches, clocks Agriculture - products -1.7% (2009 est.) Industries 39.4 billion kWh (2009 est.) Industrial production growth rate 42.1 billion kWh (2009 est.) Electricity - production 3.926 billion kWh (2009 est.) Internet country code 4.124 million (2008)