The United States warned its businessmen on Friday of the “increasing risks” of operating in Hong Kong, a long-standing major international financial center, due to restrictions imposed by China.
The long-awaited warning from Joe’s government Biden, which has already been denounced by China, warned of the increase in risks that “could negatively affect companies and people operating in Hong Kong.”
Those risks result from the harsh security law imposed a year ago by Beijing on the former British colony returned to China in e997.
“As a result of these changes, they must be aware of the potential reputational, regulatory, financial and, in certain cases, legal risks associated with their operations in Hong Kong,” the US government said.
The notice recognized that Hong Kong “retains many economic distinctions” from the mainland, including stricter intellectual property protections.
But he highlighted the climate change brought about by the new national security law, including the arrest of US citizen John Clancey, a renowned human rights lawyer.
Under the law, which prohibits subversion and other crimes against the state, dozens of people have been charged, including media mogul Jimmy Lai, former legislators and pro-democracy activists.
The US government also pointed to increased risks to data privacy as well as a lack of transparency and access to information, highlighting the closure of the pro-democracy newspaper Apple Daily.
It also indicated that companies were at higher risk of incurring US sanctions, implemented in response to concerns about rights violations.
China imposed the security law in June 2020 after massive and sometimes destructive protests that demanded the preservation of the fundamental rights promised to the city before it was returned to China.