Hong Kong is a particular administrative region (SAR) of the People's Republic of China (PRC). It is situated on China's south coast and, with this the Pearl River Delta and South China Sea . Over 90% of daily travels (11 million) are on public transport,[31] the highest such percentage in the world. Hong Kong International Airport is a important air passenger gateway and logistics hub in Asia. Hong Kong has two licensed terrestrial broadcasters – ATV and TVB. There are 13 private hospitals and further than 50 public hospitals in Hong Kong. There are also strong public health systems in Hong Kong, and the Centre for Health Protection, founded after the SARS outbreak of 2003, is particularly worthy of mention. Hong Kong grown to become a financial centre in the 1990s, but was greatly affect by the Asian financial predicament in 1998. Hong Kong had established extensive trade and investment ties with the mainland, which now enable it to serve as a point of entry for investment flowing into the mainland. The Hong Kong Military Service Corps maintained its reputation for loyalty and military skill at the highest level, often outshining British and Gurkha troops based in Hong Kong. As one of the world's leading international financial centres, Hong Kong has a major capitalist service economy characterised by low taxation and free trade, and the currency, Hong Kong dollar, is the eighth most traded currency in the world.
