How come Hong Kong never developed strong domestic porn industry and in turn exportation market for XXX movies the way Japan did?

I been wondering about this considering the island's reputation for capitalism and as a prostitution hub esp in tandem with its strong film industry famed for exporting martial arts movies to the rest of the world.........

Why didn't Hong Kong develop a strong adult video market and other XXX goods the way Premium Link Upgrade did? Especially as an export market (which Premium Link Upgrade is known to be the largest in Asia for porno movies)?
 

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