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Friday, 03 July 2020
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The News and Media Division of The Insight Partners
Friday, 29 May 2020 05:00 pm

Hong Kong told the U.S to keep out of the debate warns removing special status is a 'double-edged sword'

Hong Kong told the United States to keep out of the debate over national security legislation being imposed by China, and warned that withdrawal of the financial hub’s special status under U.S. law could backfire on the U.S. economy.

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President Donald Trump is due to announce later on Friday his response to the Chinese parliament’s advancement this week of security legislation for Hong Kong, which many lawyers, diplomats and investors fear could erode the city’s freedoms.

The former British colony has been racked by civil unrest amid fears Beijing is curbing the high degree of autonomy it has enjoyed under a “one country, two systems” formula adopted when it returned to Chinese rule in 1997.

“Any sanctions are a double-edged sword that will not only harm the interests of Hong Kong but also significantly those of the U.S.,” Hong Kong’s pro-Beijing government said late on Thursday.

From 2009 to 2018, the U.S. trade surplus of $297 billion with Hong Kong was the biggest among all Washington’s trading partners, and 1,300 U.S. firms were based in the city, it said.

Beijing says the new legislation, likely to come into force before September, will tackle secession, subversion, terrorism and foreign interference in the city. It could also see Chinese intelligence agencies set up bases in Hong Kong.

China’s Ministry of Public Security (MPS) said it would “direct and support Hong Kong police to stop violence and restore order”. Hong Kong’s police have been independent from China and the MPS has no enforcement powers in the city.

Riot police fired pepper pellets this week to disperse thousands of protesters in the city’s first major unrest since anti-government demonstrations paralysed it for months last year. There had been a lull in the agitation partly as a result of the coronavirus outbreak this year.

Chinese authorities and Hong Kong’s government say the legislation poses no threat to the city’s autonomy and the interests of foreign investors would be preserved.

Reacting to U.S. efforts to call a U.N. Security Council meeting over Hong Kong, China’s foreign ministry reiterated on Friday that Hong Kong was an internal affair and no country had the right to interfere.

It said China had lodged solemn representations to countries condemning its plans and was determined to take countermeasures against any U.S. actions.

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Tags National security Hong Kong China United States Economy Donald Trump Financial hub

Neha Pandey

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.


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