Hong Kong is a special administrative region of the People's Republic of China. It is one of the world's leading international financial centres, with a major service economy characterised by low taxation and free trade. Its legal system, which is completely independent from the legal system of China, follows the English Common Law tradition. English and Chinese (Cantonese) are the official languages of Hong Kong; business is conducted in English and business contracts are written, reviewed, and executed in English. Its currency is the Hong Kong dollar (HKD).