Factbox: How financial firms in Hong Kong may be affected by U.S. sanctions

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The U.S. has imposed sanctions on Hong Kong's chief Carrie Lam and 10 other top Hong Kong and Chinese officials. The sanctions will freeze any U.S. assets of the officials and generally bar Americans and American companies from doing business with them

FILE PHOTO: A general view of the financial Central district in Hong Kong, China July 25, 2019. REUTERS/Tyrone Siu

Under the law, it is a crime to receive “instructions, control or funding from a foreign country ... to impose sanctions or blockade” against Hong Kong or mainland China. “This is an expansive interpretation and would have immense ramifications on many businesses in Hong Kong,” she added. “To this day, we have not yet seen any enforcement of Article 29 in this way, nor has there been official guidance on this point.”

A blog post by two respected legal scholars published in late July said financial firms would not breach the law “merely by participating in the implementation of the sanctions” but they could become liable in certain exceptional circumstances.

 

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Free Hong Kong 🇭🇰

U MEAN...AMERICAN ECONOMIC TERRORISM.

Hard to tell the US and China apart, these days

That's inevitable.

This kind of political sanction game is boring and meaningless. Please focus on the communication and cooperation, especially during the tough period of COVID-19.

Give me 200,000,000 Soldiers under leadership manager JAPAN Both America and china governing systems collapse and be wiped out

No more American University degrees for the children of these people 🎻

To which the HK official replied that since they don’t have any assets in the US nor they intend to, they can send Trump a $100 bill so he can freeze it!

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