Recall the purpose of "One Country, Two Systems" (OCTS) design was to promote and facilitate the integration of two entirely different social, economic, legal, and at the end of the day, convergence of divergent cultural systems. http://www.amazon.com/One-Country-Two-Systems-Cross-Border/dp/1412846234
Since day one, if my reading of HK history is correct, the focus has been on sorting out and bridging law and political differences between PRC vs. HKSAR, one issue at a time, incrementally, imperceptibly. The challenge was whether HK can survive the return of sovereignty as an (relatively) autonomous political and legal systems with the help of OCTS. To this end and for such purposes careers of many (most?) HK politicians, - opportunists, zealots..... - were made, in the street, on TV, at US - for own glory or public interests?
There was never a concern about cultural integration, certainly not with economic discrimination as a spoiler, acting as a "Hong Kong Wall". Indeed, the visionary OCTS and foresighted Deng never contemplated that the battle for the hearts and mind of HK people would be fought along economic, culture lines. The thinking then as now (before Professor Kong and MTR incidents) in China as in HK is a simply, and most pragmatic (realistic) one, one, "money talks", and talks the loudest - over politics, law, and anything and all things in between; to old HK hands in new Chinese hearts. The assumption is money speak in a different - universal language that heal wounds and joint adversaries.
The ever savvy (naive?) Chinese political leadership has since used money strategically, to buy (reward) loyalty (street people, nationalists who dream of united China than distinctive Hong Kong) and corrupt (soften) oppositions (intellectuals, western trained liberals who knows more about Hobbes than Menzhi), in search for a conversion (never mere convergence). The perennial self-assured (cocky?) Hong Kong people never stop thinking (dreaming?), often out loud, that economic is their field and finance is their game. In time Mainland will come into their fold (not the other way around).
What come next in this sage of "clash of civilization" no one can tell, or dare say. Judging from what transpired in the Professor Kong - HK people exchanges of late, and more to come, we are opening another Chapter to OCTS saga, and depending on your orientation - beginning of OCTS integration or end of OCTS as an integrative tool, the fortunes of Hong Kong, laurels of China and legacy of Deng rests.
Whatever your take, Hong Kong, as we know it (HK people) and wish it to be (PRC leadership), for better or worse, will never be the same again.