WI: UK citizenship for all inhabitants of Hong Kong?

Is there a possibility, that some British cabinet pre-1997 can take a long view on potential of HK immigrants and simply decides to grant full citizenship for inhabitants of HK? This would either enable HK's more leeway if living in Hong Kong, or the opportunity to move into UK with their enterprising skill?

How much would UK economy benefit?
 
I suppose China might more hesitant to restrict the freedoms of the Hong Kongese because it would be easier for them to move to the UK if they felt they were being oppressed. Then again, if they start to all leave China would probably be more than happy to replace them with their own population. I imagine the U.K. as a whole would be fairly welcoming of the influx of Hong Kongese although if China cracks down there would be a more vocal movement of those calling for the British government to stand up for their families back in Hong Kong
 
The Uk government established certain rights for countries that were part of the Commonwealth, included residents of Hong Kong in the nineteen sixties. It was basically to remove any right of residency in the UK. It is unlikely that will change. It is believed some people voted to leave the EU to stop immigration. it would not be popular to extend the right of citizenship to several million potential new immigrants.
The Chinese would not be too upset if millions of anti-government residents left, However, it would probably be seen as interfering in Chineses government policy by the Chinese.
The British have a large investment in Hong Kong. I suspect protecting investments will out weight human rights issues.
Also, the UK has been sounding out possible new trade partners, including some old commonwealth countries. India has raised the right of residency issue. It's a can of worms the UK government is keen to keep sealed.
 
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