Asaninternationalbusinessandfinancialcenter,HongKongisalsoaspecialadministrativeregionimplementingonecountry,twosystems.Ithasadifferentcompanysystemandtaxsystemfromthemainland.TheCompaniesOrdinanceandTaxationOrdinanceofHongKongstipulatethatHongKongcompaniesmustsubmitauditreportsandcompletetaxdeclarationasrequired.