have intensified following the publication of the legislation at the end of last month, according to a new survey released on Monday.
The organization said 183 of its members responded to the survey conducted between July 6 and July 9, a week after the law took effect. That's about 15% of its membership. Just over half of the companies that responded were American, while 35% have their headquarters in Hong Kong. Only 21 respondents, or less than 12%, were"not concerned at all" about the law, which bans sedition, secession and subversion against Beijing.
And nearly 46% were worried that the prospect of extradition to mainland China is a"game-changer" for Hong Kong as a financial center, mainly because of the absence of clarity on how the law would be interpreted and implemented. Some said the potential for arbitrary application of the law is"frightening" and the uncertainty could hinder business investments and talent flows to the city.
About two-thirds of the companies said they will wait and see before making any significant move in business strategy, such as reducing trade and investments in Hong Kong, or reducing business travel to and from the city.
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