Edit: so OP posted the following comment.
One thing they do have going for them is that in China capital is subservient to the state, and the state still operates ostensibly for the good of society. Chinese capitalists don’t hold sway over the state the way western ones do. For now at least. So if the state decides that this or that part of the economy needs to do this or that, they can make capitalists do it. That’s good. But it’s not enough and the anti-democratic structures are extremely concerning about the future. The capitalists after all only need to capture such a powerful state once.
First of all, I detect expose to Cowbee lmao. Second, I think this may be an example of someone who genuinely does no understand the history they are attempting to joke about and stumbled their way into glazing the Br*tish empire. 
By their analysis, I think they might think HK would be better if China assumed direct control and abolished One Country, Two Systems, which I agree with but is not at all what the meme conveys.
Hong Kong was a democracy under the Br*tish
Hong Kong is less democratic now than it was then
Even if you accept that China is fully capitalist, the implication that colonial theft of land is good because the targets can't be trusted (according to your judgement as an enlightened westerner) to control land that is rightfully theirs.
The implication that HK people would be grateful for the Br*tish Empire.
All this coming from a KKKanadian citizen of the "Commonwealth".
OP posted the following comment.
First of all, I can tell they've been exposed to your posts lol. Second, I think this may be an example of someone who genuinely does no understand the history they are attempting to joke about and stumbled their way into glazing the Br*tish empire.
By their analysis, I think they might think HK would be better if China assumed direct control and abolished One Country, Two Systems, which I agree with but is not at all what the meme conveys.
Yep, agreed! It's almost like they see colonization as "default" and China as "bad," as if it's always the negative actor. In glazing the British empire, they've made the point implicitly like you suggested, that One Country Two Systems should be abolished, which I agree with working towards.