When Hong Kong was handed back to China in 1997, Beijing established a \u201cone country, two systems\u201d regime that granted the city a high level of autonomy in the legal, economic and social realms. Export-oriented Chinese firms began using the city as a logistics and clearing center, and multinationals set up shops there as their gateway into China.<\/p>\n

In recent years, however, Hong Kong is increasingly losing its allure as a springboard connecting China and the outside world after episodes of political fallout and stringent COVID controls.<\/p>\n<\/p><\/div>\n

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