Beijing Delays Decision On HK Anti-sanctions Law

"); jQuery("#212 h3").html("

Related News Programmes

"); });

2021-08-20 HKT 13:39

Share this story

facebook

  • The NPCSC was originally expected to approve a resolution to add the anti-sanctions law to Hong Kong's Basic Law on Friday. File photo: RTHK

    The NPCSC was originally expected to approve a resolution to add the anti-sanctions law to Hong Kong's Basic Law on Friday. File photo: RTHK

Hong Kong's member of the National People's Congress Standing Committee (NPCSC) Tam Yiu-chung on Friday said a vote on adding the mainland's anti-foreign sanctions law to the SAR's Basic Law had been postponed.

The NPCSC was originally expected to pass the resolution during a meeting on Friday.

However, Tam said they had decided to keep studying the matter and he believes this will lead to the legislation being "more effective."

Earlier this week, Tam said the NPCSC had consulted the Hong Kong government and the Basic Law Committee on introducing the law to the SAR and the resolution was likely to be approved on Friday.

He had also cited documents as saying that the move was "urgent."

Responding to media enquiries on the matter, the SAR government said the central authorities "always care about the development of the HKSAR and the well-being of Hong Kong people".

"As the highest state organ, the National People's Congress and its Standing Committee make decisions on Hong Kong matters based on the interests of the city. The HKSAR Government fully supports and executes any such decisions," it said in a statement.

The anti-foreign sanctions law, which was passed on the mainland in June, allows for tit-for-tat measures against foreign sanctions on Chinese nationals or entities.

RECENT NEWS

SBI Holdings To Acquire Bitbank In US$289M Crypto Expansion

SBI Holdings has agreed to acquire Japanese crypto exchange Bitbank in a deal valued at approximately US$289 million, w... Read more

4 Ways Hong Kong Banks Fight Financial Crime Using AI, According To HKMA

The Hong Kong Monetary Authority (HKMA) wants banks to use AI in financial crime as a way to counter cyberattacks and s... Read more

Ripple Launches RLUSD Stablecoin In Japan Through SBI Group

Ripple has launched its US dollar-denominated stablecoin, Ripple USD, in the Japanese market. The expansion follows reg... Read more

SBI And Startale Launch Trust Bank-Backed Yen Stablecoin JPYSC In Japan

SBI Group has introduced its trust based stablecoin JPYSC in partnership with Singapore-based fintech company Startale ... Read more

Visa Study: Digital Wallets Lead Greater Bay Area Payment Preferences

Visa has released its latest Consumer Payment Attitudes Study, highlighting how payment seamlessness is linked to a shi... Read more

European And South Korean Banks Form Project Pangea For FX Settlement

Chainlink, South Korean infrastructure provider FairSquareLab, the Unified Korea Alliance (UniKA), and European stablec... Read more