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How China Is Tightening Its Grip on Hong Kong's Economy

  • Chinese banks are dominating Hong Kong debt and stock sales
  • Immigration from China is driving city's population growth
Hong Kong Skyline at the Peak as Asia Shares Extend Relief Rally
Photographer: Billy H.C. Kwok/Bloomberg
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China is not only tightening its political grip on Hong Kong to rein in the restive city, it’s pushing harder to deepen its influence over the international finance hub's business life.

From real estate to initial public offerings, debt issuance and telecommunications, mainland Chinese companies -- many of which have government backing -- are playing increasingly assertive roles in almost every corner of the city. It’s a shift that has been in progress since the handover in 1997.