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Written by: Zheng Cuibi
2020-05-30 23:40
Last update date: 2020-05-30 23:40US President Trump announced early this morning (30th) that he would cancel the special treatment for Hong Kong, including taking action to cancel the status of Hong Kong's independent customs territory.
Wu Hongbin, chairman of the Chinese Manufacturers ’Association of Hong Kong, believes that even if the measures are implemented, the direct impact on Hong Kong ’s overall exports and the economy will be limited, because the goods exported by the Hong Kong to the United States are“ small and few ”, mostly re-exports, and the re-exports themselves are not Enjoy preferential tariffs in independent customs zones. Therefore, he believes that the measure is only to suppress China.
▼ The controversy between the parties of the Hong Kong version of the National Security Law Legislation continues ▼
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Refers to the Hong Kong dollar linked exchange rate is not the US "talk"
Wu Hongbin said that the goods exported from Hong Kong to the United States are "rarely and few", and most of them are re-exports, and the re-exports themselves do not enjoy the tariff advantages of independent customs zones. Therefore, even if the United States cancels the status of independent customs zones in Hong Kong, the overall export to Hong Kong and even The direct impact of the economy will be limited.
I was asked if I would worry about the United States ’hands on the linked exchange rate. Wu Hongbin said that the linked exchange rate is not the" speak "of the United States, and the currency exchange rates of many countries are floating." In the past, the fluctuations of the Euro and the Australian dollar have been very large. There is always risk in doing business when you are idle. "He believes that even if the Hong Kong dollar is delinked from the US dollar, the impact on Hong Kong may not be great." Where will it go? May it be linked to the RMB? It will be decided at that time, so as not to worry too much. " "
Wu Hongbin believes that even if the United States cancels its status as an independent customs zone in Hong Kong, the direct impact on Hong Kong ’s overall exports and its economy will be limited. (Profile picture)
Manufacturers will regret that the US plans to withdraw the most preferential treatment to Hong Kong
The Association of Manufacturers also issued a draft in response to the United States ’initiation of the cancellation of Hong Kong ’s most preferential treatment incident, saying it regretted this, believing that this would undermine the mutually beneficial economic and trade relations between the two sides over the years and disrupt the world ’s free trade order.
The Association of Manufacturers believes that the United States is the largest source of trade surplus between Hong Kong and the United States, and the special status of Hong Kong is the best channel for American companies to enter the Chinese market. The US approach not only destroys the mutually beneficial relationship between the two sides, but also damages American companies and investors. The interest in Hong Kong casts an uncertain shadow on the future economic and trade relations between Hong Kong and the United States.
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Wu Hongbin disagrees with the US side's claim that the enactment of the "Minato City National Security Law" is a violation of Hong Kong's high degree of autonomy. He said that ensuring national security is an important task for every country. The United States also has laws to protect national security, and there should be no double standards. The purpose of establishing the "National Security Law of the Port Area" is only to repair the legal loopholes of Hong Kong to protect the security of the country and safeguard sovereignty. It does not violate the "one country, two systems" policy, and it will not affect the business activities of investors in various countries in Hong Kong. It can help maintain Hong Kong's consistent safe, friendly and free business environment. The manufacturers hope that all countries in the world will view this legislation in a fair and rational manner, do not listen to the wrong messages of one party, and continue to maintain long-term, stable, mutually beneficial and win-win economic and trade relations with Hong Kong.
Hong Kong version of the National Security Law Manufacturers Association