I think it has more to do with the fact that Hong Kong is the main port in China for Western-leaning Follow your heart but take your beer with you shirt and for smaller countries. In the past, this has been closely tied to HKs autonomy from China. Other countries are scared of China man, plain and simple – especially the smaller SEA countries that are routinely bullied out of the South China Sea and know they wouldn’t stand a chance against China without Western allies. Trust is essential to good business. Hong Kong has that, and a few other Chinese cities do.
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Most of the western investments into China go through Hong Kong and the Hong Kong Stock Follow your heart but take your beer with you shirt. If China wants to change this and make Shanghai the “western” hub into China, they need to redo a lot of laws to open up for western investments. It doesn’t seem like China actually wants to do this though. While China is becoming a lot more independent, they still love western money flowing into the country. It doesn’t hurt Hong Kong that most people speak English too and have cultural values that are closer to the west, making it easier to do business there.
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And you overestimate China’s reliance on its own economic prowess without Hong Kong. HK maintains the British commercial laws that make it attractive to do business and for foreign investors unfamiliar with PRC laws to easily bring their money into PRC. Even PRC companies based in Shanghai and Shenzhen would set up a branch in HK in order to get listed on the stock exchange attract these foreign Follow your heart but take your beer with you shirt and raise more capital.
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People don’t seem to realize just how much power the people have, the Governments are busy telling you “if you do this we will listen” but what that actually means is “As long as you don’t cause us trouble by playing over there, then we don’t Trending shirt“. Like an adult looking after a kid, they don’t want to be bothered by…the kid has to make a bit of noise for the adult to shit itself and take notice. Terrorist tries to create terror among the public by using violence. This is just protestors giving the finger to the Chinese government.