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I was about to suggest the same. I currently live there (and Shenzhen) and it is indeed colorful. I just wish there was a stronger startup culture. The entrepreneurship culture is definitely there but for low-risk, traditional business. I personally prefer Shenzhen to Hong Kong although it is difficult to function in English.

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I know some people that try to build kind of YC for emerging markets so maybe time for Hong Kong will come.

Sounds like a good idea for China. However, I wouldn't call Hong Kong an emerging market given it has a highly developed economy and is ranked 5th country in terms of GDP (PPP) per capita (above the US, according to the IMF).

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