Hong Kong Basic Law

The 'One Country, Two Systems' principle is the cornerstone of the Basic Law. It guarantees Hong Kong a high degree of autonomy in all matters except defense and foreign affairs. This means Hong Kong has its own government, legal system, currency (the Hong Kong dollar), and customs territory. The idea was to allow Hong Kong to maintain its capitalist system and way of life for 50 years after the handover, while still being part of China.

Article 5 of the Basic Law states that the capitalist system and way of life in Hong Kong shall remain unchanged for 50 years. This is a critical provision because it was meant to reassure Hong Kong residents and the international community that Hong Kong would not be immediately absorbed into mainland China's socialist system. This article is often cited when concerns arise about Beijing's increasing influence over Hong Kong.

The Basic Law guarantees certain fundamental rights and freedoms to Hong Kong residents, including freedom of speech, of the press, of assembly, of association, of travel, of movement, of correspondence, of strike, of choice of occupation, of academic research, and of religious belief. These rights are similar to those found in many Western democracies and are intended to protect Hong Kong's civil liberties.

The Basic Law establishes Hong Kong's legal system, which is based on the common law tradition inherited from British rule. Hong Kong has its own independent judiciary, including a Court of Final Appeal. This means that Hong Kong courts have the power to interpret the Basic Law and other laws, and their decisions are final, subject to certain limitations.

Article 23 of the Basic Law requires Hong Kong to enact laws to prohibit treason, secession, sedition, and subversion against the Central People's Government (Beijing). This article has been highly controversial because many fear that such laws could be used to suppress dissent and restrict freedoms. Attempts to implement Article 23 have faced strong opposition from the Hong Kong public.

The Basic Law outlines the process for electing Hong Kong's Chief Executive, the head of the Hong Kong government. Initially, the Chief Executive was chosen by an election committee dominated by pro-Beijing figures. The Basic Law envisions eventual universal suffrage for the Chief Executive election, but the details and timeline for this have been a major source of political conflict.

The Basic Law also establishes the Legislative Council (LegCo), Hong Kong's legislature. LegCo is responsible for making laws, approving budgets, and holding the government accountable. However, the composition of LegCo is not entirely directly elected. A portion of the seats are reserved for functional constituencies, which represent various sectors of the economy and tend to be pro-Beijing.

The Basic Law grants Hong Kong its own customs territory, meaning it can set its own tariffs and trade policies independently of mainland China. This has allowed Hong Kong to maintain its status as a major international trading hub.

The Basic Law allows Hong Kong to maintain its own currency, the Hong Kong dollar, which is linked to the US dollar. This provides stability and confidence in Hong Kong's financial system.

The interpretation of the Basic Law ultimately rests with the Standing Committee of the National People's Congress (NPCSC) in Beijing. This means that Beijing has the final say on how the Basic Law is understood and applied, which has raised concerns about the erosion of Hong Kong's autonomy.

Amendments to the Basic Law require the support of two-thirds of the members of LegCo, the consent of the Chief Executive, and approval by the National People's Congress. This makes it difficult to amend the Basic Law without the support of Beijing.

The Basic Law states that foreign affairs and defense are the responsibility of the Central People's Government. However, Hong Kong can participate in international organizations and agreements in its own name in certain areas, such as trade and culture.