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During this period, China accepted only silver bullion as payment for goods. At the start of the 19th century, the British realized that they could purchase silks and teas in exchange for opium. China outlawed the drug, but many people were already addicted, which caused the economy of China to suffer. The Opium Wars began when China publicly destroyed a British ship that carried chests of opium. In January 1841, the British navy claimed Hong Kong Island. The Opium Wars finally ended in 1898, when Britain executed a 99-year lease of the New Territories.
Kowloon Peninsula was acquired by the convention of Peking (now called Beijing) in 1860...
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