Now, fear that the yuan will fall further is making the former U.K. colony, where the currency is pegged to the U.S. dollar, a haven. ... China 's slowing economy has been a bonus for Hong Kong 's bankers , money changers and wealth managers , who are seeing an influx of cash from nervous mainlanders . Noah Holdings Group President , Kenny Lam , said " the devaluation of the yuan and the volatility of the domestic market are forming a perfect storm " . In fact , the flood of cash has been so high that the Hong Kong Housing Authority had to sell HKD 15.5bn ( $ 2bn ) to the market , in an effort to push down the price . This is coupled with an increasing demand for ultra - high - end homes in Hong Kong , as mainland Chinese look for other havens for their money .
China 's slowing economy has been a bonus for Hong Kong 's bankers , money changers and wealth managers , who are seeing an influx of cash from nervous mainlanders . Noah Holdings Group President , Kenny Lam , said " the devaluation of the yuan and the volatility of the domestic market are forming a perfect storm " . In fact , the flood of cash has been so high that the Hong Kong Housing Authority had to sell HKD 15.5bn ( $ 2bn ) to the market , in an effort to push down the price . This is coupled with an increasing demand for ultra - high - end homes in Hong Kong , as mainland Chinese look for other havens for their money .