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Words: | Submitted: Mon Jun 19 2006
... promise by China's Communist leaders to keep Hong Kong highly autonomous and Capitalist under the Slogan "One Country, two Systems". The handover to China of Hong Kong also effects China's reputation and economic stability because if China loses the prosperity and stability of Special Administrative Region (SAR), China's own credibility will be undermined. But it is inevitable that Hong Kong after the revision to China sovereignty will come under the dominant influence of China that the business environment will become more Chinese. Hong Kong is rapidly merging with Guangdong Providence economically. Deeper ties are certain to produce far reaching structural changes in the Hong Kong economy, how to handle them will be one of the largest tasks for the new SAR government. From a financial perspective, Hong Kong will shift to a Chinese style rules in all its business dealings. This means that greater emphasis will be placed on "guanxi" ...
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