Final answer:
Hong Kong, a former British colony, became a major trade and financial hub maintaining ties with global markets, including Shanghai's entertainment industry. Post-1997, it continued as a key player in international commerce while operating under a 'one country, two systems' arrangement.
Step-by-step explanation:
Hong Kong was a British colony from 1842 to 1997, experiencing a brief occupation by Japan from 1941 to 1945. The region's history is deeply interconnected with the entertainment industry of Shanghai, another major Chinese city. Both cities grew into significant cultural and economic centers during the era of Western colonization and the modern era.
The port of Victoria, a deep-water port in Hong Kong, was crucial in establishing trade between China and the British Empire. Post-1997, when the sovereignty of Hong Kong was transferred back to China, it maintained its capitalist system and autonomy for 50 years as a Special Administrative Region (SAR). This unique status made Hong Kong a significant access point for trade with mainland China, allowing it to become a business and banking center with global influence.
The flourishing economy of Hong Kong also influenced the development of Shenzhen as a special economic zone (SEZ) and facilitated the region's rise to prominence in the international market. Consequently, the entertainment industry in Shanghai, also a major metropolis, benefited from the economic prosperity, with increased investment and cultural exchange facilitated through Hong Kong.