Looks like the assimilation is moving faster than expected... (yes, I know.. I know..)
S&P Global Ratings cut Hong Kong’s credit rating a day after it downgraded China for the first time since 1999, a move that reflects the "strong institutional and political linkages" between the special administrative region and the mainland, the ratings firm said.https://www.bloomberg.com/news/artic...hina-downgrade"We are lowering the rating on Hong Kong to reflect potential spillover risks to the SAR should deleveraging in China prove to be more disruptive than we currently expect," S&P said in a statement, referring to the Hong Kong special administrative region.