After China tookover Hongkong,many bussiness men immigrated from Hongkong .What's it's effect on China?

Question

After China tookover Hongkong in year 1997 , many business men of Hongkong immigrated from Hongkong to other countries,may be due to some wrong steps by Chinese govt. or some fear in them regarding future unstability of Hongkong.I want to ask , WHAT was the effect of this immigration on CHINA?

Answer 1

Insignificant effect on such a big and powerful nation.

Answer 2

Most who left Hong Kong were professionals but not businessmen, i.e. the middle class. As for the businessmen - the group you refered in your question, most of them just moved their families to overseas while keeping their business / factories / investments in China. I know a lot of these people moved back to Hong Kong after they got their Canadian / Australian passports and now are living in Hong Kong. Most of them don't pay Canadian/Australian tax because both countries' tax rates are a lot higher than Hong Kong's tax rate.

In 1997, there was about 5.5 millions population in Hong Kong, now we have almost 7 millions. Would it be a big issue of loosing a million or two while China has over a billion of Chinese? Hong Kong is a very competitive city when ones give their positions up, the others would take over right away.

So far, the wealthest people of Hong Kong didn't leave because of 1997 and if you have time to check the Heng Sang Index records, you would know a lot more about the "EFFECT".

I have to tell you, the "SARS" in 2003 was the biggest fear and uncertainty I have ever envisaged in Hong Kong after 1997.

Answer 3

Hong Kong ecomony is rising. The Heng Seng Index is high in favour. People who migrated to another country got their citizenship and moved back to Hong Kong.

Answer 4

A few thousand people abandoning China, would never be missed.
The businessmen realized they could make more money in a capitalist country, than they could under communist rule.