The Macau Special Administrative Region, commonly known as Macau, is one of the two special administrative regions of the People's Republic of China, the other being Hong Kong. Macau lies on the western side of the Pearl River Delta, bordering Guangdong province in the north and facing the South China Sea in the east and south. The territory has thriving industries such as textiles, electronics and toys, and a notable tourist industry that boasts a wide range of hotels, resorts, stadiums, restaurants and casinos. This makes it one of the richest cities in the world. Macau was both the first and the last European colony in China.Portuguese traders first settled in Macau in the 16th century and subsequently administered the region until the handover on December 20, 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.Under the policy of "one country, two systems", the Central People's Government is responsible for the territory's defense and foreign affairs, while Macau maintains its own legal system, police force, monetary system, customs policy, immigration policy, and delegates to international organisations and events.