Going into 1997 a fair number of upper and upper middle class people in Hong Kong did leave to other countries out of fear of Communist rule. The former manifested in the form of the old Jewish shipping clans relocating to Israel. The latter was selective Chinese immigration to Vancouver, Sydney, and London. The British returned to the UK. Among those who stayed, most were highly bullish on the Chinese economy and HK’s role in it. They were proven right over the next two decades. In 1996, Shui On Group bought 23 blocks in French Concession, Shanghai in a great deal, turning it into Xintiandi. In 2008, Swire Group developed Taikoo Li in Sanlitun in Beijing. Throughout this period all forms of Chinese enterprises IPOed on HKEX. It was one of the fastest wealth creation periods in recorded history. Hong Kong became more, not less, diverse over this period, as foreigners arrived to perform investment and merchant banking and import-export management. Property markets went through the roof, becoming what is today still the most expensive real estate in the world.(Zhu Su)