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2024 is probably the first year in which it is possible to openly discuss the consequences of the implementation of the National Security Law (NSL) in Hong Kong (2020). Multiple developments seem proving that Beijing has eventually started considering the Hong Kong Special Autonomous Region of the People’s Republic of China (HKSAR) as fully integrated into the Chinese political and economic system. This is allowing Beijing to start fully integrating Hong Kong in its global economic strategy, transforming the city into a stronghold to reinforce its position abroad, particularly towards Europe, the United States, and the Middle East. After discussing the nuances of this evolution, the article explains to what extent former Hong Kong partners, mainly Taiwan, the United States, as well as the European Union, are also adjusting their positioning vis-à-vis HKSAR to limit the indirect influence China might exert on them through the city.