Hong Kong burnishes China ties as luster as global hub fades

By ZEN SOO and JOE McDONALD
Associated Press

HONG KONG (AP) — As it marks the 25th anniversary of its return to China, the former British colony of Hong Kong is transforming itself from a global business hub to nurture its ties with the communist-ruled mainland. The semi-autonomous territory of 7.5 million people is reeling from pandemic curbs that have devastated business and a crackdown on its pro-democracy movement. Such trends are raising concern among foreign business and leading some companies and executives to leave the city. But Hong Kong’s leaders say it’s time for the one-time fishing village turned global financial center to transform itself into a leader in technology more closely integrated with nearby Chinese factory cities.