Hong Kong, Carrie Lam, Hong Kong Economy, Hong Kong Pro-Democracy, Hong Kong National Security Law, Hong Kong Protests, Us-China Tensions, Legislation, United States

Hong Kong, Carrie Lam

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

Bankers, headhunters, U.S. officials say it would hurt financial hub’s economy

2020-05-23 8:31:00 AM

Hong Kong ’s pro-Beijing politicians claim controversial national security law good for business GlobeBusiness

Bankers, headhunters, U.S. officials say it would hurt financial hub’s economy

Anthony Kwan/Getty ImagesHong Kong’s pro-Beijing politicians sought to allay worries about the impact of China’s proposed national security legislation on the Asian financial hub’s business environment, saying it would boost investor sentiment.The 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.

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U.S. government officials have said the legislation would end the Chinese-ruled city’s autonomy and would be bad for both its 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.

Story continues below advertisementBankers and headhunters said it could lead to money and talent leaving the city. Hong Kong stocks slumped 5.6% on Friday.Upon her return from Beijing late on Friday, Hong Kong leader Carrie Lam said the stock market “goes up and comes down” and it was in fact the large scale pro-democracy protests in 2019 which destabilized the business environment.

“Especially having gone through almost one year of disruptions, violence and uncertainties, anything particularly in safeguarding national security that will help stabilize the environment is indeed very good for local investment sentiment,” she said.

Henry Tang, a member of the Standing Committee of the Chinese People’s Political Consultative Conference, said the legislation was “beneficial” for the business environment as it brings stability and strengthens the rule of law.Local newspaper Mingpao quoted a Hong Kong General Chamber of Commerce statement saying that while more details and explanations were needed to preserve confidence, the chamber “always wanted to see social stability and peaceful business environment, and not violence”.

Former Hong Kong chief executive Leung Chun-ying pointed to large U.S. investments in mainland China despite national security laws there.“Can businessmen tell Hong Kong people, why are there more U.S. companies, U.S. businessmen and U.S. investments in mainland China than Hong Kong?” he wrote in a Facebook post.

Read more: The Globe and Mail »

globebusiness Because sale of the secret society is included in the deal 🐶🍺 globebusiness

COMMENTARY: China shows off military strength as Beijing eyes new rules for Hong KongChina's National People’s Congress will soon rubber stamp Draconian new security legislation designed to strip Hong Kong of its last democratic vestiges, Matthew Fisher says. viriyabot An invasion is imminent. God Bless America

Hong Kong opposition slams China national security law move Hong Kong pro-democracy lawmakers sharply criticized China's move to take over long-stalled efforts to enact national security legislation in the semi-autonomous territory, saying it goes against the 'one country, two systems' framework in which Beijing promised the city freedoms not found on the mainland. Remember Tiananmen Square

Hong Kong security bill ‘good for local investment,’ pro-China politicians argue Hong Kong leader Carrie Lam said the stock market “goes up and comes down” and it was in fact the large scale pro-democracy protests in 2019 which destabilised the business environment. local investment by the CCP lol Do the people have Hong Kong want the bill They want to be free from China. Disgusting article

Trudeau says Canada concerned about China’s proposed new law for Hong KongTrudeau said Canada has long called for deescalation of tensions between Beijing and the semi-autonomous territory. Sharia law is here in Ontario... We are now controlled by muslims in Ontario. Hide your wives and children with hold your tax dollars... Now we are? Can I ask why we weren’t back when they were rioting and the Chinese was rolling militarized police into the country? Alot of Canadians are concerned for Canada. Step down traitor.

Trudeau says he is concerned by China’s Hong Kong security lawNew national-security bill comes after year of protests that rocked former colony globepolitics THIS IS SICKNING... The Union says “their is no requirement for Teachers to work online with students. Ford should fire them. Stupidity and greed. If the union is promoting ' do nothing' then they should 'receive nothing.' TAXPAYERS REVOLT NOW.. globepolitics Why? Is he suddenly a fan of democracy? globepolitics Everyone should be concerned by this. CCP is a threat to everyone on earth.

Analysis: China dares Trump to hit back with Hong Kong power grabThe move risks triggering another round of tit-for-tat escalation between the U.S. and China, which have seen ties spiral to their worst in decades since COVID-19 began spreading Last time I checked Hong Kong is not part of the United States and therefore, it's really none of Trump's business F China. All democratic countries on this planet need to put concerted effort into shifting trade from China to other countries such as India, Vietnam, whatever... Meanwhile in Canada The Little Potato 🥔 Wets Himself While Hiding in his Beloved Pillow Fort Again MagicKingdom PeterPanPM 🤡🤪🧦🎈