China warned the United States on Thursday it would take “firm counter measures” in response to U.S. legislation backing anti-government protesters in Hong Kong, and said attempts to interfere in the Chinese-ruled city were doomed to fail.
U.S. President Donald Trump on Wednesday signed into law congressional legislation which supported the protesters despite angry objections from Beijing, with which he is seeking a deal to end a damaging trade war.
The legislation requires the State Department to certify, at least annually, that Hong Kong is autonomous enough to justify favourable U.S. trading terms that have helped the territory grow as a world financial centre. It also threatens sanctions for human rights violations.
Beijing warned that the United States would shoulder the consequences of China’s counter measures if it continued to “act arbitrarily” in regards to Hong Kong, according to a foreign ministry statement.
Hong Kong’s Beijing-backed government said the legislation sent the wrong signal to demonstrators and “clearly interfered” with the city’s internal affairs.
Anti-government protests have roiled the former British colony for six months, at times forcing businesses, government, schools and even the international airport to close.
The financial hub has enjoyed a rare lull in violence over the past week, with local elections on Sunday delivering a landslide victory to pro-democracy candidates.
Aware of her elements, Neha writes the best articles across industries including electronics & semiconductors, automotive & transportation and food & beverages. Being from the finance background she has the ability to understand the dynamics of every industry and analyze the news updates to form insightful articles. Neha is an energetic person interested in music, travel, and entertainment. Since past 5 years, she written extensively on sectors like technology, finance and healthcare.
Smarter Decisions with Smart News
Smart Market News is committed to getting its readers the latest updates and insights on industries that help in making “smarter” business decisions. With insights and inputs from corporate decision makers, we bring you the stories of adopting innovative solutions and strategies that have been changing the world. Our editorial insights on products, solutions, companies, and adoption of best practices not only help in understanding the markets better, but also prove to be a complete package for your information needs.