WASHINGTON, July 18 — The United States on Friday warned its business community of growing risks of operating in Hong Kong due to China’s clampdown, as an increasing number of Western companies consider abandoning the historic financial hub.
“Today we send a clear message that the United States resolutely stands with Hong Kongers,” Blinken said. The advisory acknowledged that Hong Kong, a former British colony handed back to China in 1997, “retains many economic distinctions” from the mainland including stronger protections of intellectual property.
Dozens of people have been charged under the law including the media tycoon Jimmy Lai, former lawmakers and pro-democracy activists. The United States has already slapped sanctions on top officials including Hong Kong’s pro-Beijing chief executive, Carrie Lam, who has admitted that she has struggled to use credit cards as a result.
Since the imposition of the security law, a growing number of international companies have announced plans either to leave or reduce staff in Hong Kong including VF Corp., the US apparel giant known for its Timberland and North Face brands.
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