Can you elaborate on what you think the implications of China's involvement are? I mean, "one country, two systems" seems to be allowing HK to be very free.
Just a gut feeling. China is a behemoth, and territorial at that. Singapore has a really interesting free-trade independence minded history. This is an excellent documentary on the history of Singapore. https://www.youtube.com/watch?v=n3X_xR31Rt4
http://www.heritage.org/index/ranking