Hong Kong, whose name means "Fragrant Harbour", is located about 80 miles south-east of Guangzhou on the coast of China in the sub-tropical climate of the mouth of the Zhu Jiang ("Pearl River"), earning the city its nickname "The Pearl of the Orient". A total area of just under 1,100 square kilometers covers Hong Kong Island, Kowloon and the New Territories and Islands. The population in 1999 was 6,843,000.
The Hong Kong dollar is the legal tender in the Hong Kong Special Administrative Region, as stated in "The Basic Law of the Hong Kong Special Administrative Region of the People's Republic of China". Foreign currency refers to any currency other than the Hong Kong currency. Accordingly, Chinese Renminbi is also treated as foreign currency.
Since October 1983, the Hong Kong dollar has been linked to the US dollar at the fixed rate of HK$7.80 to US$1.00.
