Social News
Written by: Hu Jiaxin
2020-05-30 09:57
Last update date: 2020-05-30 10:55US President Trump announced that he will cancel the US's special trade status with Hong Kong, including actions to cancel the status of Hong Kong's independent customs zone and impose tourism restrictions. A number of business people said this morning (30th) when they attended the commercial program "Political Good Saturday" that they expected to take related actions in the United States, but it is estimated that they will have little impact on the business community for the time being.
Executive Council member Lin Jianfeng said that Hong Kong ’s exports to the United States are no more than 0.1%. On the contrary, the US ’s trade surplus earned in Hong Kong exceeds US $ 30 billion a year, and it is believed that this US move will be “harmful to others and punishing its own citizens. "However, he believes that during this period, Hong Kong has to suffer from" short-term pain ", which will particularly affect the US import business such as beef and alcohol.
(From left in the picture) Zhong Guobin, leader of the Liberal Party, Yang Limen, CEO of the Chamber of Commerce, Lin Jianfeng, member of the Executive Council, and Ye Zhongxian, chairman of the Federation of Industry, attended the commercial program this morning to express their views on the sanctions against the United States against Hong Kong. (Provided by commercial platform)
Unexpected U.S. sanctions "step forward" has little impact on business
The National People's Congress passed the formulation of the Hong Kong version of the National Security Law. President Trump announced that he would take action to cancel the status of Hong Kong's independent customs zone and impose tourism restrictions. The leader of the Liberal Party, Zhong Guobin, said on the show that the United States is expected to take this walking action. "It's only a big step without knowing what to do, and I think it will only be done step by step."
Executive Council member Lin Jianfeng agrees, but believes that the current measures have little impact on the business community. Hong Kong exports no more than 0.1% of products to the United States. On the contrary, the US trade surplus earned in Hong Kong exceeds US $ 30 billion annually. It would be "damage to others and punish your citizens." However, he believes that this measure will affect Hong Kong ’s imports of US business such as beef and alcohol, and during this period, Hong Kong must suffer "a short period of pain, but Affordable. "
In addition, the United States intends to restrict the export of high-tech products to Hong Kong. Ye Zhongxian, chairman of the Federation of Industries, said that industry generally does not import American equipment. However, high-end scientific research in universities may use special equipment made in the United States. I believe it will affect university research. However, in recent years, the US-China trade war has rigorously inspected the export of university scientific research equipment and has gradually adapted to it.
The National People's Congress passed the formulation of the "Hong Kong version of the National Security Law" earlier, and the United States immediately announced that it would cancel Hong Kong's special trade status. (China News Agency)
Worried about the US side's influence on the linked exchange rate "lethal power will be strong"
Zhong Guobin said that he believes that the current US trade sanctions against Hong Kong will have little effect, but if the measures involve Chinese exports, the joint effects on Hong Kong cannot be ignored. He continued that if the United States adopts financial measures against Hong Kong, "the lethality will be strong." He does not rule out that the United States intends to influence the linked exchange rate. "If the dollar settlement is not cleared with you, Hong Kong can file, but it is not possible Extreme? ''
However, Yang Limen, the chief executive of the Chamber of Commerce, is more optimistic. He does not think that the United States will start with the linked exchange rate because the US commerce still depends on the mainland. For example, 90% of American household goods are imported from the mainland. "Politicians have one set, but the business community There will be calculations. "Lin Jianfeng believes that if the United States takes this step, it will trigger a crisis of confidence in the United States of other countries.
As for the impact of the "Hong Kong version of the National Security Law" on the business sector, Zhong Guobin believes that it is beneficial to the local business community and that it can stabilize the demonstrations in Hong Kong, but the prospects for international trade may be uncertain. Yang Limen also said that the business community welcomes the National Security Law, but in recent years, there has been hatred in China, and in the long run, we should think about how to improve the relationship between the two places so as to work together.
[Hong Kong version of the National Security Law] Trump announces countermeasures Aesthetics question the sanctions against Chinese forces
[Hong Kong version of the National Security Law] Anglo-American leaders talk on the phone: The National Security Law is detrimental to Hong Kong ’s autonomy and one country, two systems
[Hong Kong version of National Security Law] EU: China ’s actions affect mutual trust but do not consider sanctions as a solution
Hong Kong version of the National Security Law Government