Hedgefunds, China vs US vs HK

How does the outlook of hedgefunds look like for Chinese run hedgefunds? Asking because of China's increasingly tightening of the flow of free money in China, as well as capitalistic moves, which I feel are what hedgefunds have to have since they make trades here and there based on "mistakes" of capitalism.

Also, are Chinese run hedgefunds/propshops located in China or HK? Asking because, once again, CCP's tight control of money makes me think even Chinese run hedgefunds would prefer being actually located in HK where it's more capitalistic and allows more freedom in terms of financial maneuvers, in terms of trades made, taxes, etc. 

Finally, how would working be different in US vs China/HK based hedgefunds?

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