A lot of locals will find it hard to integrate and assimilate in other societies that are dissimilar to Chinese ones. Some will be willing to sacrifice their own lives for their children's future and others may choose to return.
They have built many China towns across the world and if we take a small example of that documentary (Part 1&2), wonderful echo system built by first cohort of locals in a small UK city to welcome and support next cohort of people settle, help find a job etc..
End of the day we hardly need 5-6 people/couple max in our inner circle to survive anywhere, if they can stick together like they have in beginning, not too difficult to assimilate..
I have a colleague who left 2 years ago came back to hk and back into our company. He brought his wife over with him too.. So thats +2 right there lol
HK has always been transitory cities.. people come people go.. it has always been short of people resources, so tonnes of visas were issued. Whatever shortfall, some guys will want to take up the role if the incentives are good enough. Our company has been hiring fairly senior technical guys from many places, UK, Dubai, Australia, South Africa, India etc.etc... everyone has their own reason of deciding to make the move. Its definitely not a one way street and after some short hiccup i think nobody remembers the 2022 anecdotal events anymore...
A local HK friend left last year as she feared the worst with the HK government. She moved to England and came back 3 months later stating it was too cold.