'The more time I spend on the mainland, the more I worry about Hong Kong,' he said. 'China is moving quickly.'

At the end of 2010, his company opened its first branch outside Hong Kong in Chengdu in Sichuan. Eighteen times as big as the original, Chengdu's Lan Kwai Fong houses popular Hong Kong brands, such as the Volar club as well as local businesses. In less than two years, land values in the vicinity of the new entertainment hub have doubled.

Zeman is building a similar hub in Haikou in Hainan and plans to open four more nightclub districts - each with 35,000 square metres of food and beverage outlets and a retail zone of the same size - in Chongqing , in Hangzhou and Ningbo in Zhejiang and in Qingdao in Shandong in the next five years. Each will cost US$250 million. A private nightclub group will back the projects.

Since his initial plans went public, Zeman has received enthusiastic feedback from banks and funds. He did not rule out an initial public offering in Shanghai or Hong Kong after the hubs become established.

Building nightclub districts would cater to the demand in secondary cities for a more colourful nightlife as their residents grow richer, he said.

As there are fewer expatriates in those cities, these hubs must match the local tastes of customers, he said: 'Chengdu people, they love tea, they love hotpot, and they love mahjong ... Hong Kong's [Westernised] Lan Kwai Fong will fail there ... there is a mix [of mainland and Hong Kong operators], so they feel comfortable.'

In contrast to the rapid growth in such cities, Hong Kong seems to be standing still at the moment as people argue about theoretical problems, Zeman warned.

He said chief executive-elect Leung Chun-ying should be given a chance to implement his proposed policy changes, as 'we need someone to light the match'.

Leung has warned about the perils that face the city if his plans to restructure his cabinet were to be delayed: construction of public housing would be delayed, economic growth would continue to lag behind Singapore's, financial opportunities provided by Beijing would be wasted.

But Zeman urged Leung to spend six months or a year to strategise.

'Most people hate change,' he said. 'You need time to bring the public in to let them feel they are part of the changes.' Zeman called on Leung to tackle universal suffrage and housing first.

'Sixty-five per cent of the social problems will be solved if the housing issue is settled,' he said.

On universal suffrage, Zeman said: 'When the people do not have the power to vote, the government lacks legitimacy.'

But stability was important while moving towards democracy, he said.

'Instability brings us nowhere. Some people admire the European and the US modes, but they have had difficult times too,' Zeman said.

A staunch supporter of defeated chief executive candidate Henry Tang Ying-yen, he said Tang could possibly run for the top job again.

'But surely a campaign would be difficult if he disappears from the public scene in the coming five years,' Zeman said. 'We had a good conversation after he returned from holiday, and he said he wanted to go on serving Hong Kong.'