Tag: Hong Kong

China denounces statement of ‘five eyes’ on Hong Kong as meddling
30Aug mmBy Mike TrudellNo Comments
China, USA, World

China denounces statement of ‘five eyes’ on Hong Kong as meddling

The Chinese embassy in Canada has denounced the five eyes alliance for their statement on Hong Kong government's disqualification of candidates and postponement of Legislative Council elections.On July 9, Australia, Canada, New Zealand, the United Kingdom, and the United States (the five eyes) had said that the disqualification of candidates and postponement of elections have undermined the democratic process that has been fundamental to Hong Kong's stability and prosperity.In a sharp response, the Chinese embassy in Canada, in a statement said, “…the foreign ministers of Canada and other countries made a statement which once again contained irresponsible comments on the Hong Kong affairs and amounted to gross interference in China's domestic affairs. China expresses its strong dissatisfac...
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Trump signs Hong Kong Autonomy Act, ends city’s preferential trade status
24Jul mmBy Michael SmithNo Comments
USA

Trump signs Hong Kong Autonomy Act, ends city’s preferential trade status

In response to Beijing’s moves against Hong Kong, US President Donald Trump signed an executive order ending the city’s preferential trade treatment, and gave way to a bill that would require sanctions against foreign individuals and banks for contributing to the erosion of Hong Kong’s autonomy."Today, I signed legislation and an Executive Order to hold China accountable for its oppressive actions against the people of Hong Kong," Trump said while addressing the media.Trump said he signed Hong Kong Autonomy Act which will give powerful new tools to hold China responsible. The Act will allow the Trump administration to levy sanctions against foreign individuals and banks for contributing to the erosion of Hong Kong's autonomyThe signing of the Act comes two weeks after imposition of the Hon...
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National Security Law will bring Chinese system to Hong Kong: Report
21Jun mmBy Walter Parez1 Comment
China

National Security Law will bring Chinese system to Hong Kong: Report

The Hong Kong national security legislation will effectively bring China’s legal system to the city and will give power to the Chinese government to apply pending law without the approval of Hong Kong's legislature, say critics.Beijing is yet to confirm the legislation's relevant clauses, however, officials have indicated that those in breach of the law, could be extradited to the mainland for trial."This national security legislation shows that the Communist Party has lost its patience and confidence in 'one country, two systems', as well as the Hong Kong people and our administration," Civic Party opposition lawmaker Tanya Chan said."This is a warning and a reminder to Hong Kong people about who is the boss," Chan said.China says the law is aimed at tackling separatist activity, subversi...
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Hong Kong legislation: China’s rich skirting ‘the financial hub’ to seek asset safety elsewhere
29May mmBy Joe RodriguezNo Comments
China, Singapore

Hong Kong legislation: China’s rich skirting ‘the financial hub’ to seek asset safety elsewhere

Wealthy Chinese are expected to park fewer funds in Hong Kong on worries that Beijing's proposed national security law for the city could allow mainland authorities to track and seize their wealth, bankers and different business sources.More than half of Hong Kong's estimated private wealth of over US$1 trillion is from mainland individuals who have parked money there, according to bankers.The city has benefited from its proximity to China and separate legal system, but there are now worries about it losing its edge as a global financial centre due to capital and talent flight.Interviews with half a dozen bankers and headhunters have revealed that some Chinese clients are looking for other hubs as their main offshore wealth base with Singapore, Switzerland and London high on the list.One C...
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Hong Kong’s pro-Beijing politicians say national security law good for business
23May mmBy Mike TrudellNo Comments
Singapore

Hong Kong’s pro-Beijing politicians say national security law good for business

In a bid to reduce tension in the market, Hong Kong’s pro-Beijing politicians on Saturday rubbished claims that China’s proposed national security legislation would harm the Asian financial hub’s economy, saying it would instead boost investor sentiment.The security legislation aims to tackle secession, subversion, terrorism, and foreign interference and could see mainland intelligence agencies set up bases in Hong Kong, raising fears of direct law enforcement.U.S. government officials have said the legislation would end the Chinese-ruled city’s autonomy and would be bad for both Hong Kong’s and China’s economies. They said it could jeopardize the territory’s special status in U.S. law, which has helped it maintain its position as a global financial centre.Bankers and headhunters said it c...
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