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Home香港Hong Kong is transformed from Asia's financial hub to Xi's 'wallet'

Hong Kong is transformed from Asia’s financial hub to Xi’s ‘wallet’

HONG KONG — A quarter century ago, China promised Hong Kong a high degree of autonomy under the “one country, two systems” model when the territory reverted to Chinese rule. Now President Xi Jinping is using the city as a “wallet” by applying two separate standards — “one country” for politics and “two systems” for economic affairs — risking Hong Kong’s position as Asia’s premier financial center.

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