Delayed Vote On Sanctions Law 'not Unusual': Scholar

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

Related News Programmes

"); });

2021-08-20 HKT 17:10

Share this story

facebook

  • Mainland scholar Tien Feilong says the NPCSC normally endorses a resolution after three vetting. Photo courtesy: City University of Macau

    Mainland scholar Tien Feilong says the NPCSC normally endorses a resolution after three vetting. Photo courtesy: City University of Macau

A mainland scholar on Friday played down Beijing’s decision to postpone a vote on inserting the anti-sanctions law into Hong Kong’s Basic Law, saying it’s not unusual given the profound impact it could have on the SAR’s markets.

Tien Feilong, an associate professor of law at Beijing’s Beihang University said details have to be worked out on how the mainland law would be implemented in Hong Kong.

For example, he said the central government has to decide how local authorities should coordinate with mainland’s enforcement mechanism, and whether companies based in Hong Kong can apply for exemptions.

Tien said Beijing also need to make sure the “brand new” anti-sanctions law will cause as little impact to the Hong Kong market as possible.

The scholar, who’s also the director of the Chinese Association of Hong Kong and Macau Studies, noted that the law may also have a bearing on the SAR’s ties with the United States which has a lot of commercial activities in the city.

He said the central government has to assess the risks of the US decoupling from Hong Kong and its possible attacks on the SAR’s economic and trade status after the law is introduced.

Tien also said it's not unusual for the National People’s Congress Standing Committee to postpone a vote, as it might vet a resolution for up to three times before voting on it.

Tien said he believed the central authorities did consider the current Legislative Council's term is coming to an end next month, but he said it's just a technical factor and it's not a must to complete the local legislation in this current term.

RECENT NEWS

Vietnam And South Korea Launch Cross-Border QR Payments

Vietnam and South Korea have launched cross-border QR payments that allow Korean users to pay merchants in Vietnam thro... Read more

WeChat Pay Integrates With Local QR Networks In 5 Asian Countries

WeChat Pay has integrated its service with national QR code networks in five Asian countries, simplifying cross-border ... Read more

Global Transition Finance Ecosystem Gains Momentum

The global transition finance ecosystem is gaining momentum. According to new research by the Hong Kong Institute for M... Read more

Banking Circle Taps PayGate To Ease KRW Cross-Border Payments Into South Korea

Global payments bank Banking Circle will now handle cross-border transactions and settlement flows for South Korean pay... Read more

Equinix AI Discovery Hub Opens In Hong Kong For Enterprise AI

Digital infrastructure company Equinix is partnering with Hewlett Packard Enterprise (HPE) to launch the Equinix AI Dis... Read more

Tencent, Alibaba Eye DeepSeek Stake As AI Startup Tops US$20B Valuation

Chinese tech giants Tencent and Alibaba are in discussions to invest in AI startup DeepSeek, The Information reported, ... Read more