I think it's healthy to have a diverse set of mid and upper market companies. Chinese companies will ultimately buy their way into up market businesses. One antidote that I can readily think of is the acquisition of the street wear company Bape buy a the Chinese/Hong Kong manufacturer I.T Group. Forbes magazine is another company that was acquired by a Chinese company.
Furthermore, Hong Kong has some international appeal and most people think of it as a nation separate from China. In reality, companies from China incorporate in HK to escape the aurora of being a Chinese compnay