Johnny To and Oliver Stone on Cinema

In this discussion between Johnny To and Oliver Stone [ http://www.filmbiz.asia/news/stone-and-to-ignite-shanghai], To poses this question:

"Hong Kong has been part of China since 1997. Hong Kong is a part of Chinese cinema. You don't hear people talk about Shanghai cinema. Why does Hong Kong cinema still insist on holding on to its own identity?"

Good question? What's the answer?