The Hong Kong situation is deliciously or hideously (take your pick) complex. From China's point of view, there are, simply, no good choices: anything and everything they will do or even just want to do will be wrong.
HK is one of the world's financial hubs. Hundreds of billions of dollars (cash, merchandise, futures, you name it) pass through there every day ~ HK matters more than all of Canada in that regard
The business of HK is business. The Hang Seng index (stocks and bonds) is tanking; billions and billions of dollars, yen, euros and so on are being lost, day after day.
The demonstrations have stretched the HK police past the breaking point. The force is 30,000+ strong for a city of 7.5 million. Large, but it is a complex place to police and some parts of the force are not available for routine duties, even in dire emergencies like Force 10 typhoons.
China needs a calm, working Hong Kong for a whole host of reasons including Taiwan.
If, and it's a Huge IF, Taiwan can be persuaded that "one country, two systems" can work and that China can be trusted, then peaceful reunification remains on the table; if China is seen to be subverting HK's (very limited) "independence" then the only way to get Taiwan back is to invade, with uncomfortable, because they are unknown, consequences.
Some Chinese officials are convinced that there must be some foreign interference/instigation in these demonstrations ... I am nearly 100% sure that there is some covert, indirect, foreign support for some of the organizers: from Taiwan, Japan, Singapore and even Australia. I sincerely doubt that the Americans are smart enough subtle enough to work, sub rosa, in HK; the Australians and even the Brits, maybe, maybe even the Canadians, but not the Americans. But what I think doesn't matter, some Chinese officials think John Bolton is behind this.
The HK police force needs some help. The PLA is the worst possible sort of help ... but what else is there?
Carrie Lam has failed, miserably, but I cannot see how Beijing can replace her without losing face ... and HK or not, this is China, face matters, immensely. If you don't grasp that then you cannot ever hope to understand what's going on.
There is only one good course open: the anti-Carrie Lam faction ~ which is at least 35% of HK, maybe 75% right now ~ needs to back away, for a while. They need to give the police time to rest and recuperate and reconsider ... otherwise, the PLA will, most likely, have to go on the streets and that will be a disaster. The young leaders of what is, now, an independence movement don't want to do that because it would look like surrender. It wouldn't be but I doubt they can or will see it that way. Tempers are too high, on all sides. The people are angry at the authorities; the police are getting angry at the protesters and at a government which they think is wishy-washy because it tries to apologize when, inevitably, the police are less than perfect. The Chinese government is confused and, frankly, terrified and has too many balls in the air, right now.
Singapore is making hay ~ money is pouring in. Ditto Sydney. Even London is doing better, despite the Brexit.
As for Canada ... I spent a few minutes this morning with an old friend and mentor. He's a HK native whose judgement is always sound and who has extensive contacts in the Canada-HK community. He says that thousands, likely tens of thousands of Canadians who live in HK are packing their bags right now. What will that mean for Canada? We will get thousands of highly skilled (mostly business-oriented) people with large cash reserves; they are amongst the most productive people on earth; Canadians, by and large, are amongst the least productive people in the OECD.
My :2c: