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Their role however has changed overtime. They are no longer the de facto leaders of Hong Kong as they were in the mid 1800's. Their role has diminished as Hong Kong grew to become more international, and the 1997 handover to the People's Republic of China has further altered their position. Some hongs that
adapted well to the changing times prospered while others either went bankrupt or become stagnant.
Background on Hong Kong EconomyThe territory of Hong Kong is located at the mouth of the Pearl River, a little southwest of the Guangdong Province of the PRC.
Hong Kong was ceded to the British after the Opium War in 1842...
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