One of the reasons the Chinese government was willing to accept a high degree of political autonomy for Hong Kong when it was negotiating the 1997 handover of the territory was that the communist leadership understood its economic importance to the mainland.
Hong Kong was a hyperconnected global financial and commercial hub on China’s doorstep.
This was an era when China was itself opening up to the world, attempting to increase exports and welcoming foreign investment and expertise into the country.
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