With the opening of fund flow channel between the inland and Hong Kong, the Hong Kong financial market will inevitably experience the trend of mainlandization. ANBOUND research team believes that the following situations might show up：First, Hong Kong stock market will undergo fundamental changes, and the investment risks will become increasingly mainlandized. Second, it will be more difficult for Hong Kong's market regulation. Third, international investors in Hong Kong will have to adapt to these changes. How to maintain its relatively high status as an international financial center will be a challenge for Hong Kong.