Foreign Media Digest
Author: Cheng Yihua
2020-08-11 16:34
Last update date: 2020-08-11 16:34The US government issued an announcement on August 11 that starting from September 25, goods produced in Hong Kong must be marked as "China" when they are exported to the United States, and the "Made in Hong Kong" label must not be affixed. The outside world is concerned about the impact of this move on Hong Kong's economy. Bloomberg reported that the actual impact of this move on Hong Kong's trade or economy may be limited because Hong Kong does not have many direct exports to the United States.
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Bloomberg reported that the actual impact of the new US regulations on Hong Kong’s trade or economy may be limited, because most of Hong Kong’s exports to the US are re-exports or go through Hong Kong without substantial changes.
The report lists Hong Kong government statistics. In 2019, exports to the United States amounted to approximately HK$304 billion, of which only 1.2% were domestic exports and nearly 80% were re-exports from mainland China to the United States.
According to the announcement of the US government, since Hong Kong no longer has sufficient autonomy to prove that it needs to be treated differently from China, starting from September 25, goods produced in Hong Kong must be marked as "China" when exported to the United States. ", the label "Made in Hong Kong" is no longer allowed.
â–ĽRelated pictures: The U.S. Department of the Treasury announced sanctions on 11 Chinese and Hong Kong officials on August 7. Click on the pictures to learn about the list of sanctions and reasons for the sanctions on Chinese and Hong Kong officials â–Ľ
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