Saturday marks 20 years since Hong Kong was returned to China by Britain. In that time, the city of 7m people has changed in countless ways, with many new opportunities and problems. The disruptions riling Hong Kong underline just how much China is changing the world.
China’s breakneck growth since the handover in 1997 means Hong Kong today is much less significant to Beijing in relative economic terms. In 1997, China needed Hong Kong as a port, aviation hub and centre for foreign investment. Today the ports of Shanghai, Ningbo and Shenzhen all ship more containers than Hong Kong.
International investors who want to understand Chinese business and consumer trends are more likely to be stationed in Shanghai or Beijing. Hong Kong’s annual gross domestic product is now similar to that of neighbouring cities Shenzhen and Guangzhou.