At the moment it is is using HK for all cryptocurrency related activities. It has a simple strategy in my opinion. It is utilizing the benefits of US crack down on cryptocurrency through HK and safeguarding it's mainland retail investors. All major companies from the US have either moved or are under the process of moving to HK. Through HK it will start controlling the cryptocurrency market. I am sure it will make HK a global hub for all cryptocurrency businesses.
Thankfully when other countries will begin to get bitter towards bitcoins and cryptocurrencies as a whole, other countries like Hongkong always reach out their hands to help those crypto companies that are in need of homes after they suffered some foolish lawsuits from the SEC or the US government. I hope when they take crypto companies like this, they won't change their regulations anytime sooner giving those companies a hard time recovering their losses from the previous damages caused by the past countries they were operating with.