Haang kaang - NYLONKONG, the world city H.K - pearl of the orient

Hong Kong is a world city. It is one of the Al­pha+ cities. Also, a Time Magazine article in 2008 coined the phrase "Nylonkong", which referred to New York City, London and Hong Kong, that these three cities form a global network that facilitates the global economy. As Hong Kong ranks the third most important leading international financial centre, after London and New York City, Hong Kong has a major capitalist service economy characterised by low taxation and free trade.

 The name "Hong Kong" is an approximate phonetic rendering of the pronunciation of the spoken Cantonese or Hakka name , meaning "fragrant harbour". Before 1842, the name referred to a small inlet—now Aberdeen Harbour or hoeng¹gong² zai² "Little Hong Kong"—between Aberdeen Island and the south side of Hong Kong Island, which was one of the first points of contact between British sailors and local fishermen.