Can't stress this enough. The number one priority for the political and business classes is to tunnel their wealth overseas and the first port of call is usually Hong Kong.
In the last decade, much of the HK stock market (and economy) is propped up by Chinese money and these outflows. Shell companies are sold in Hong Kong just because they are listed on the stock exchange - the underlying businesses are often spun-off as a part of the transaction and the resulting operation just a way to funnel money and business outside of Chinese capital controls.
The property market is also full to the brim with money from the mainland. Hong Kong has a much stronger hand than most people realise, because of the fact that the Chinese elite themselves lack confidence in their own system on the mainland.
In the last decade, much of the HK stock market (and economy) is propped up by Chinese money and these outflows. Shell companies are sold in Hong Kong just because they are listed on the stock exchange - the underlying businesses are often spun-off as a part of the transaction and the resulting operation just a way to funnel money and business outside of Chinese capital controls.
The property market is also full to the brim with money from the mainland. Hong Kong has a much stronger hand than most people realise, because of the fact that the Chinese elite themselves lack confidence in their own system on the mainland.