This is simply not true, the principle reason for living there is business, money and rule of law, the new law directly affects that and the ramifications will begin to be felt throughout the business ecosytem soon enough, face saving subsidies from Beijing won't last that long.
It is likely to have some economic benefits as the city becomes more calm again and will help enable integration into the Greater Bay Area plan - which will turn a domestic market of 7.5m people into one of 70m people.
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Which means Hong Kong just becomes another PRC city and the unique advantages that have allowed it to prosper dissapate over the next few years. Laowai on the make will continue to hustle as usual as they are and were only really windowdressing, and it not as if there is work elsewhere for them now that Dubai has gone down the tubes.
It will be interesting to see how HK performs in the Greater Bay area plan roll out you extol, a domestic market of 7.5 sophisticated HK's replaced by a 70 million + one of mainlanders all chistling margins as only Chinese competing with Chinese can. HK will be fast absorbed apart from the bits kept on for the PRC Tourist industry.
Hong Kongers are not popular on the mainland, never have been, doubley so now, they will be drinking from the cup of bitterness offered by their countrymen on the mainland in deal after deal no doubt while being politely reminded of their special status within the PRC.
Also HK as a location for mainland SME business will begin to dry up - to howls from Kowloon, HK's rule of law was treasured by all business people all over the PRC.
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Publicly most companies are staying tight lipped but privately the law is mostly welcomed by both domestic and international firms as it allows everyone to go back to normal. There is still a massive flow of international money coming in, much of it via Hong Kong, with the lion's share of it being from US firms - make of that what you will
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