Any move out of China makes China suffer. This is because a drop in the bucket is still a drop and it is still relevant to the economy. His move might also encourage other business leaders to leave the country and thus create a domino effect against China. The US manufacturers are also leaving in tiny amounts.
In the past fifty years the United States has been relocating almost every industry that the nation took pride in. Exporting jobs to other countries, and getting lower costs for labor is not simply worth it. The United States has suffered immensely financially, and if LI Ka-Shing were to do the same action to China, there will be similar effects.
China will be fine, because this move is about growth and opportunity not completely relocating. Two infrastructures are changing and the headquarters are dividing, but not leaving. CK Property will be remaining in China to deal with all property matters and many Chinese businesses are incorporated in the Cayman Islands, but remain prosperous in Hong Kong.
When the American car companies were "too big to fail," no one pointed out that the GDP of an American car company was similar to that of the California Pizza Kitchen. China is a huge country with vast resources. If one business owner leaves, another one will be right in line to take his or her place.