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If Hong Kong were not developed by the British as a world class financial center, I really doubt PRC cares about such tiny territory.
Look at what Russia/USSR grabbed from China -- land six times the size of France. As late as 1929, USSR invaded China and seized all the islands along the Amur and Ussuri Rivers. No treaty. Just annexation by force.
And lately China was so happy that it had got back some islands from the Russians. But one of them China just got half. The reason is that island is too close to the Russian city of Khabarovsk. So Russia needs to keep it for national security.
But CCP is so elated that it could get back the island from Russia -- even only half.