We should go one further and carve out a territory for a New Hong Kong and let them re-build there.
New Hong Kong City, Colorado. I like the sound of that.
Colorado, would become the new Mecca of delicious Cantonese cuisine and Dim Sum eateries. As well as, all the technical, math, financial, and medical talent, that you can extract from the Hong Kongers. Their children would become the future engineers and doctors in America.
It would unleash a new golden age for Colorado! And bring in massive amounts of tax revenue too!
(Explaining the joke: that's where the alternate history in _The Yiddish Policemen's Union_ put its post-WW2 Jewish diaspora.)