Hong Kong supply-chain magnate William Fung and Hong Kong private-equity chief Mary Ma both serve on Christie's advisory board.

WSJ: Sotheby's to Launch Hong Kong Gallery

"The Chinese are differentiating between wearing athletic versus casual wear day-to-day, " said William Shen, Hong Kong-based partner at private-equity firm Headland Capital Partners Ltd.

WSJ: Change Afoot for Investors in China's Retail Sector

In fact, except the political elite and a small number of businessmen, professionals and experts, other disadvantaged sectors of society have virtually remained barred from the corridors of power, William Lam, a Hong Kong-based China scholar, said in a recent research report published by Washington-based Jamestown Foundation.

FORBES: The Super Rich Rises As China Begins Leadership Transition

That's also the way William Overholt, regional strategist at Nomura Securities in Hong Kong, sees it.

CNN: Making A Magic Kingdom

Defense Secretary William Cohen is scheduled to begin a weeklong trip to Hawaii, Hong Kong, Japan and South Korea.

CNN: Friday,

His son William E. (Chip) Connor II would later take over the firm and move its headquarters to Hong Kong in 1985.

FORBES: China's Untapped Potential Far Outweighs Its Competitors