The biggest takeaway is that communication lines are now open between the 2 economic powers. While there's bound to be differences, the world is big enough for both countries to co-exist and prosper together so let's hope sanity return instead of more sanctions. There's simply no need to have a new cold war which doesn't benefit anyone. Time will tell.

As for HK and China stocks, if we are simply looking at valuations. HSI as a whole is 2 standard deviation below average. It is extremely cheap as compare to other exchanges. I won't be surprised if HSI become the 'most bullish index' in percentage gain in 2023. After all, market moves in cycle so there's no such thing as 'china stocks are uninvestable' as proclaimed by the western media who take on a bias view in my opinion. Then again whether to invest or not also sit with individual risk appetite so always ensure you do your own due diligence before you part your money.