In January, 1841, frustrated by delays in obtaining instructions from London, Elliott declared that Hong Kong would be governed by two laws, and that the British would not interfere with the Chinese exercising their own laws in relation to their own people, with the exception of torture. All in Hong Kong were to be protected "against all enemies whatsoever and they are further secured in the free exercise of their religious rites, ceremonies and social customs and the enjoyment of their lawful property and interests." It was Elliott who ensured that Chinese owners received good and fair prices for land especially on the waterfront.

7 June 1841: he issued, again seemingly without a response from London, a proclamation that Hong Kong should become a free port "with no charges ... payable to the British Government."

Free ports have mushroomed across the world and are widely condemned by many with a one dimensional view of trade and crime.

Read about Free Ports, their development, legal and fiscal status and the truth about their financial crime and money laundering risks - with other topics - in Volume 1 of Trade Based Financial Crime.

https://amzn.to/3ATtPhd

#tbml #moneylaundering #freeports #morriscotterill

Thanks to Frank Welsh - A history of Hong Kong (https://amzn.to/3CuFeo3) for the facts.