Macau, along with Hong Kong, is one of the two special administrative regions of PR China. It lies on the western side of the Pear River Delta. The territory's economy is heavily dependent on gambling and tourism, but also includes manufacturing. Macau was a Portuguese colony in 1887, and is both the first and last European colony 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.