The Basic Law, Hong Kong's constitutional document, has provided the constitutional basis upon which the Hong Kong Special Administrative Region has continued its economic system. It has maintained its
tax system,
currency,
customs and excise system, etc.
The
Hong Kong Monetary Authority functions as a central bank and financial regulatory authority.
As an independent customs and excise zone, Hong Kong has been a WTO member since 1 January 1995 and a member of GATT since 23 April 1986.
Representatives of the HKSAR Government have also continued to participate, as members of delegations of the People's Republic of China, in international organisations limited to states, such as the International Monetary Fund, the World Intellectual Property Organisation, the International Civil Aviation Organisation and the International Telecommunications Union.
There are more than 130 binding bilateral agreements between the HKSAR and over 50 countries throughout the world. Areas covered in these agreements include air services, visa abolition, investment promotion and protection, surrender of fugitive offenders, mutual legal assistance in criminal matters, transfer of sentenced persons, customs co-operation, co-operation on information technology and avoidance of double taxation.
More than 200 multi-lateral treaties apply to the Hong Kong SAR (of which more than 80 do not apply to the Mainland). They cover many areas such as
customs, environment, science and technology, civil aviation,
merchant shipping, intellectual property,
investment,
trade and industry,
postal services,
labour,
transport and telecommunications.
