The Chinese burned that possibility when they reneged on the agreement to allow Hong Kong independent government.
To be honest, I am simply one of those that does not trust the PRC.
Of course, I am also old enough to remember Tiananmen Square, and watching Nixon in China. And one thing I have learned after many decades is that they are right there with North Korea and the Soviet Union/Russia when it comes to making promises, then turning right around and crapping on those promises if they think it is to their benefit (and to be fair there, the USSR had a reputation for crapping on their own citizens, but almost meticulously abiding to international treaties).
What many likely are not aware of, is at that time in the late 1980s, both the Soviet Union and PRC were undergoing a time of almost radical "Liberalization". While the Soviets had Mikhail Gorbachev, the PRC had a very similarly minded Hu Yaobang. A man who like Gorby wanted to push through reforms, and turn the nation into an actual modernized political Democracy. He was still a fervent Communist, but he believed that the party should maintain control not through force, but by the will of the people themselves. This did not sit well with the hardliners, and in January 1987 he was forced by the hardliners to resign.
This is what actually led to the 1989 protests, primarily by students that believed in Hu and wanted to see his policies enacted. Like Hu the majority were Communists, but simply wanted more of a say in their actual government. The protests themselves started off when on 8 April 1989 Hu suffered a heart attack, then kicked into high gear when he died on 15 April. The actual protests started as memorial vigils, but then mutated into trying to push for more support for his ideals.
One thing that often confuses many about my beliefs is that I do not actually have anything against Communism (although I do have a hatred of Marxism). I do not care if a government is Communist, Fascist, Theocratic, Monarchist, or a Meritocracy, Democracy, or Republic. Just so long as the people have a say in how things are run and no groups are exploited or oppressed. And towards the end of the 1980s both the USSR and CCP appeared to be moving in those directions, until the hardliners tried to step in and turn the clock back three decades. One of those events literally ended the nation, the other led to four decades of oppression that is still ongoing to this day.