The original Kun Iam temple was built in the 6th century CE. The present buildings date from 1627. The temple is dedicated to Kun Iam (also known as Kuan Yin and Guanyin), the Chinese representation of Avalokiteshvara, the Bodhisattva of Mercy. Macau was both the first and last European colony in China. In 1535, Portuguese traders obtained rights to anchor ships in Macau's harbours and to trade, though not the right to stay onshore. Around 155253, they obtained permission to erect temporary storage sheds on the island and built small houses. In 1557, the Portuguese established a permanent settlement in Macau, paying an annual rent of 500 taels of silver. Macau soon became the major trafficking point for Chinese slaves, and many Chinese boys were captured in China, and sold in Lisbon or Brazil. Portugal administered the region until its handover to China on 20 December 1999. It is now best known for casinos and gambling.