CS Says 'some' Foreign Businesses Back Extradition
"); jQuery("#212 h3").html("

"); });
2019-05-26 HKT 12:32
Chief Secretary Matthew Cheung says he has managed to convince 'some' foreign businesses to back the government's contentious plans to amend Hong Kong's extradition laws, during meetings last week to assuage widespread concerns about the bill.
The international business community has been among the most vocal opponents of the planned extradition law changes, which would allow the transfer of fugitives to places with which Hong Kong has no extradition agreement, like the Mainland, Macau and Taiwan. Organisations like the American Chamber of Commerce have warned that this could hit Hong Kong's reputation as a business hub, while many foreign governments, legal experts, journalists and activists are worried that Beijing could abuse the arrangement to target political enemies.
But Cheung reiterated in his blog that there'll be ample oversight by local courts, and people's rights will be protected. He said as part of the government's campaign to dispel 'unnecessary' fears, he held 'in-depth' and 'candid' meetings with foreign business chambers. Afterwards, he said some participants had stated that they now support the legal changes, and think the amendment is a 'demonstration' of the rule of law in Hong Kong. However, he gave no specifics.
Despite this apparent turnaround, there remains much opposition to the move. Eleven representatives of the European Union lodged a formal protest against the bill directly to the Chief Executive, Carrie Lam, on Friday. However, she has said they didn't highlight any specific concerns, and Tam Yiu-chung, a member of the National People's Congress Standing Committee, says it was 'unreasonable' for the EU officials to have issued the diplomatic note. He told reporters he thinks they have been misled by the United States over the matter, and that Washington is trying to use the controversy to undermine China amid the Sino-US trade dispute.
Is Hong Kongs Default Life Insurance Choice A Wealth Drain?
Hong Kong is a city that takes financial security seriously, boasting one of the highest insurance penetration rates in... Read more
RedotPay Secures $107M Series B, Total Funding Hits $194M
RedotPay, a global stablecoin-based payment fintech, has closed a US$107 million Series B round, bringing its total cap... Read more
91% Of Hong Kong Merchants Lose Revenue To Payment Friction
Aspire has released its Hong Kong Ecommerce Pulse Check 2025, highlighting that while mid-sized ecommerce merchants rem... Read more
Do Kwon Faces Possible Trial In Korea After US Conviction
Do Kwon, the crypto tycoon behind the 2022 collapse of TerraUSD and Luna, caused an estimated US$40 billion in investor... Read more
Startale, SBI Holdings To Develop Japans Regulated Yen Stablecoin
Startale Group and SBI Holdings have signed a MoU to jointly develop and launch a fully regulated Japanese yen-denomina... Read more
KakaoBank Expands In Indonesia Through Superbank Partnership
KakaoBank, South Korea’s largest internet-only bank, is accelerating its global expansion through a deepened partners... Read more
