Hong Kong People's Freedom and Choice Act This bill provides for immigration benefits related to Hong Kong in the event that China puts into effect national security legislation in Hong Kong that would curtail political freedoms. (Hong Kong is part of China but has a separate legal system. U.S. law provides Hong Kong with special treatment due to this autonomy.) If China promulgates the Hong Kong national security law, Hong Kong shall receive temporary protected status for 18 months. During this period, qualifying Hong Kong residents who have been continuously present in the United States since this bill's enactment and apply for such status shall have work authorization and may not be removed from the United States. If the President suspends Hong Kong's special treatment under U.S. law, Hong Kong shall continue for five years to be treated as a separate foreign state when calculating annual per-country caps under immigration law. The Department of Homeland Security (DHS) may provide special immigrant status to a qualifying Hong Kong resident who meets certain educational requirements or owns a company of a certain size. DHS may admit up to 50,000 principal aliens under this provision for each of the five fiscal years after this bill's enactment, and such aliens shall not be subject to other numerical limits. Qualifying Hong Kong residents who fear political persecution from China and apply for permanent resident status shall be deemed to have an approved petition. Certain provisions, such as requiring applicants to have a valid entry document, shall not apply to such individuals.