Macau was a Portuguese colony and both the first and last European one in China. Portuguese traders first settled in Macau in the 16th century and subsequently administered the region until the handover on 20 December 1999. The Sino-Portuguese Joint Declaration and the Basic Law of Macau stipulate that Macau operates with a high degree of autonomy until at least 2049, fifty years after the transfer.
Macau is situated 60 kilometres southwest of Hong Kong and 145 kilometres from Guangzhou. It consists of the Macau Peninsula itself and the islands of Taipa and Coloane. The peninsula is formed by the Zhujiang (Pearl River) estuary on the east and the Xijiang (West River) on the west.It borders the Zhuhai Special Economic Zone in mainland China. The main border crossing between Macau and China is known as the Portas do Cerco (Barrier Gate) on the Macau side, and the Gongbei Port of Entry on the Zhuhai side.
Macau is an offshore financial centre, a tax haven, and a free port with no foreign exchange control regimes
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