[Hong Kong version of the National Security Law] White House officials: funds or withdrawal of Hong Kong will lose the status of financial center

Instant International

Author: Liang Kaiyi

2020-05-23 09:15

Beijing's promotion of the "Hong Kong version of the National Security Law" has attracted international attention. Senior US officials warned of Beijing's actions or the termination of Hong Kong's special status. White House economic adviser Kevin Hassett estimated on May 22 that external investors may no longer view Hong Kong as the current financial center and may experience divestment.

In an interview with CNN, Hassett stated that officials are studying feasible countermeasures, "We will never let China pass" and threatened to consider all options. He believes that the promotion of the "Hong Kong version of the National Security Law" is very costly to both Chinese and Hong Kong people, because external investors may no longer view Hong Kong as the current financial center.

Hassett also mentioned when accepting Fox Business News that investors are unlikely to invest in a place that mocks the rule of law. He predicted that Hong Kong will have serious capital outflow problems. After the implementation of the "Hong Kong version of the National Security Law", Hong Kong is no longer a financial center in Asia, and the cost is very heavy.

National security consultant Robert O'Brien said that Hong Kong ’s status as a different customs union and the special treatment it receives as a free system will be at risk because of Beijing ’s actions. He hinted that the United States may coordinate viable countermeasures with its allies. He pointed out that if Beijing implements the "Hong Kong version of the National Security Law" and takes tough action, the United States will respond. "I think other countries in the world will respond, including the United Kingdom and our allies and friends."

Secretary of State Mike Pompeo issued a statement saying that the US side is traveling with Hong Kong people. He said he strongly urged Beijing to reconsider its "catastrophe-level plan", abide by its international obligations, respect Hong Kong's high degree of autonomy, democratic system and civil liberties, and pointed out that this is the key to maintaining the special status given to Hong Kong by US law.

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Hong Kong version of the National Security Act