After the independence of Southern Rhodesia (now Zimbabwe) in Africa in 1980 and British Honduras (now Belize) in Central America in 1981, the last major colony that remained was Hong Kong, with a population of over 5 million. With 1997 approaching, the United Kingdom and China negotiated the Sino-British Joint Declaration, which led to the whole of Hong Kong becoming a "special administrative region" of China in 1997, subject to various conditions intended to guarantee the preservation of Hong Kong's capitalist economy and its way of life under British rule for at least 50 years after the handover. George Town in the Cayman Islands has consequently become the largest city in the Overseas Territories.