Letters | Why the old Hong Kong will endure, despite new challenges
- The advantages of maintaining Hong Kong’s system will outweigh the threats perceived by Beijing and the Communist Party
China is strongly protective of the core precepts of its current political economy, which it defines as “socialism with Chinese characteristics”. Pressure on corporate Hong Kong is already visible in companies in the city that are dominated by mainland board members.
The question I would like to ask is: will China and the Communist Party members who have benefited from Hong Kong’s status as a loosely regulated financial centre continue to protect its existence?
Or would there be a change in Hong Kong’s banking, finance, and technology industries, like in major mainland cities such as Shanghai and Shenzhen?
Whether Hong Kong will lose its core values may entirely depend on how Hongkongers act in the coming days and months, amid great uncertainty.