Do China Hong Kong residents who hold British National (Overseas) passports (Hong Kong passports) have British nationality?

BNO was specially established for Hong Kong people, and the British government made a fortune through it before 1997. BNO recognizes that you are a British citizen and a Commonwealth citizen, but you are not a British citizen. Note that this difference is very big, which means that you have no right of abode in the UK. In addition, BNO status does not allow children to inherit. It's basically useless.

Moreover, Hong Kong has returned to China, and now it does not belong to the British Overseas Territory (BOT), so the British BOT Act of 2002 did not include Hong Kong. Most importantly, China only recognizes the Hong Kong BDTC passport as a travel document, not a proof of nationality.