The Hong Kong Special Administrative Region (HKSAR) is a part of the People's Republic of China, established on July 1, 1997. It was created after the British handed over control of Hong Kong to China, allowing it to maintain a high degree of autonomy under the principle of "one country, two systems." This means that Hong Kong has its own legal system, currency, and immigration policies, distinct from mainland China. HKSAR is known for its vibrant economy, bustling port, and diverse culture. It is a major financial center in Asia, attracting international businesses and tourists. The region is also famous for its skyline, featuring iconic structures like the Victoria Harbour and the International Commerce Centre.