Waves of mass migrations from Hong Kong villagers exercised their right of abode in the United Kingdom and left for Europe. In 1967, a series of large-scale riots erupted in Hong Kong, causing social instability. These events led some of the richer Hong Kong residents to move abroad. Emigration took place to countries in Southeast Asia, South Africa or South American countries. This wave did not come to a rest until the mid-1970s. On the 19th of December 1984, the People's Republic of China and the United Kingdom signed the "Sino-British Joint Declaration", validated the 1997 transfer of sovereignty over Hong Kong to China. The declaration prompted
1950s in Hong Kong by the Government. There were no central banks or monetary policies. The Governor did not want to regulate the Hong Kong Stock Exchange even though it had become a serious problem in financing the fast-growing economy at the time. Manufacturers constantly complained about the shortage of investments. Pressure was coming from within and outside Hong Kong to get the policies fixed. 1950s in Hong Kong The 1950s in Hong Kong began against the chaotic backdrop of the resumption of British sovereignty after the Japanese occupation of Hong Kong ended in 1945, and the renewal of the Nationalist-Communist Civil War in