BEIJING, June 24: The Queen's head and crown - symbols of colonial connotations are fading out of Hong Kong which will revert to Chinese sovereignty on the midnight of June 30.The British Queen's head design on the obverse side of Hong Kong coins is being replaced by a Bauhinia flower, reflecting the historic change in Hong Kong from a land under the British colonial rule to a special administrative region (SAR) of China from July 1.The Hong Kong's stock market has been reaching for record highs in anticipation of business as usual - or may be even better than usual - after China takes control.But the optimism is not shared by all. As the handover approaches, the small but influential group surrounding former shipping magnate and future chief executive Tung Chee-Hwa is having an anxiety attack about Hong Kong's competitiveness - and with good reason, according to some.Everyone's inability to define, precisely, what it is that has made Hong Kong an economic marvel has prompted fears that some magical elixir will dissipate as soon as China takes charge.A free port and strong markets, easy international access and firm defence of the rule of law are acknowledged as key underpinnings to Hong Kong's economic success.But these features are common in cities around the world.Most people believe that Hong Kong survives and thrives on a number of less quantifiable elements. Ranking high among these is the ``borrowed time, borrowed place'' mentality.With the date July 1 next, etched in the backs of their minds, Chinese emigres worked against time in Hong Kong, using ingenuity and determination to transform themselves into some of the world's wealthiest people.
