Hong Kong version of the National Security Law｜Qiu Tenghua: Filling the loopholes in Hong Kong and appealing to all investors not to worry

Political situation

Written by Peng Zhuowei

2020-07-01 10:26

The National Security Law of the Minato District was officially gazetted and implemented in Hong Kong yesterday (30th). Qiu Tenghua, Director of the Commerce and Economic Development Bureau, said today (1st) that every country will have laws to protect its own national security, describing the NPC legislation as a way to fill the loopholes in Hong Kong, providing adequate legal protection against social concerns over the years, and emphasizing all investments No need to worry about it, the Bureau will continue to carry out explanation work with the Chamber of Commerce.

The Hong Kong government held a flag-raising ceremony, and the setting board promoted the National Security Law. (Photo by Liang Pengwei)

US Secretary of State Pompeo announced earlier that he would terminate the export of defense equipment to Hong Kong and impose restrictions on Hong Kong’s dual-use defense and military technology. Qiu Tenghua said that the US sanctions will not significantly affect Hong Kong’s trade and will not affect the re-exporters, but because the United States unilaterally cancels import and export convenience, it will be inconvenient to make individual applications in the future, and if the trade decreases, exporters It will also be affected.

He also pointed out that at this stage there is no significant impact on trade, and the trade volume of imported materials is about 400-500 million US dollars per year, which is not an important share of the entire Hong Kong-US trade.

Qiu Tenghua emphasized that Hong Kong has strict control over the import of strategic materials and won international recognition. If the central government wants to respond to unreasonable US actions, the Hong Kong government will follow suit.

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