Movie industry?
Soft power is meaningless. Hard power matters, that's why the PRC is recognized as China by every major country in the world. And it's why Taiwan can't even enter the Olympics using their own name, let alone any other major international organization.
And even for the movie industry, I consider Mainland movies (especially the "serious" dramas) to be far better than Taiwanese movies, and about as good as HK movies from the 1980's-1990's.
I've seen plenty of Taiwanese movies, they are good for "entertainment" but not much else.
As for the HK economy, the most powerful player there is Li Ka-shing, who is a Teochew originally from the Mainland. And he is the richest person in all of Asia.