HONG KONG - Hong 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.
US 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 jeopardise the territory's special status in US law, which has helped it maintain its position as a global financial centre. 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 destabilised the business environment.
Mr 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.
For the business with China only - the other countries will gradually pull out.. A real opportunity for Singapore is arising!!