Portugal transferred the sovereignty over Macau, its last overseas territory, to the People's Republic of China. The handover took place on December 20, 1999. The transfer of sovereignty marked the end of over four centuries of Portuguese colonial rule in Macau.
The agreement for the handover was reached between Portugal and China in 1987, and it was based on the "one country, two systems" principle, similar to the arrangement for Hong Kong. According to this principle, Macau was granted a high degree of autonomy, except in matters of foreign affairs and defense, for 50 years after the transfer.
The handover ceremony on December 20, 1999, included the lowering of the Portuguese flag and the raising of the Chinese flag. Macau became a Special Administrative Region (SAR) of China, enjoying a considerable degree of autonomy, separate legal and economic systems, and preservation of its way of life for 50 years from the handover. This transition marked the completion of the decolonization process for Portugal and the establishment of Chinese sovereignty over Macau.
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