Govt Move 'gives Hong Kong Breathing Space'

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

"); });
2019-06-15 HKT 18:09
Beijing and its allies in Hong Kong have praised Carrie Lam’s decision to suspend the controversial extradition bill, saying this will give the government more time to allay the public's concerns and restore social harmony.
In a statement, the State Council said while the proposed legal changes are “necessary” and “appropriate” to plug "loopholes" in the SAR’s laws, it has been highly concerned about society’s response to the legislative bill.
It said Beijing “supports, understands and respects” the Chief Executive’s decision to pause legislative work on the bill, and it will continue to support her work.
Meanwhile, Foreign Ministry spokesman Geng Shuang called the decision an attempt to "listen more widely to the views of the community and restore calm to the community as soon as possible".
"We support, respect and understand this decision," Geng said in a statement.
Pro-government political parties, including the Business and Professionals Alliance and the DAB, also welcomed the move.
DAB chairwoman Starry Lee said the suspension will give society some much-needed breathing space.
“The increasing concerns over the controversy should be eased by now for the sake of Hong Kong’s harmony and stability, and the well-keeping of Hong Kong’s impression to the international community”, she said.
But another DAB member, executive councillor Ip Kwok-him, warned that the government’s credibility may be affected by the suspension.
However, he disagreed with calls for Carrie Lam or Security Secretary John Lee to step down, saying the pair have both worked incredibly hard to try to improve Hong Kong’s legal system.
Ip said it is “unusual” for so many people in society to misunderstand a bill, despite the government’s repeated explanations for the public.
Roundtable lawmaker Michael Tien said he also backed Lam's decision, and urged people to "give her a second chance".
Tien said the controversial law changes should not be put to legislators again until they have the support of the majority of the people, adding that he thinks this will not be anytime soon. (Additional reporting by AFP)
TOPPAN Edge Becomes Japans First Qualified VLEI Issuer
The Global Legal Entity Identifier Foundation (GLEIF) has announced TOPPAN Edge, a subsidiary of TOPPAN Holdings that p... Read more
SFC And Dubais DFSA Partner On Cross-Border Regulatory Cooperation
The Dubai Financial Services Authority (DFSA), the independent regulator of the Dubai International Financial Centre (D... Read more
Toss To Launch Finance Super-App In Australia, Plans Won-Based Stablecoin
South Korea’s fintech unicorn Toss is preparing to launch its finance super-app in Australia before the end of this y... Read more
China Funds Research On Stablecoins And Cross-Border Oversight
China’s largest government-backed research funder has begun accepting applications for studies on stablecoins and the... Read more
XTransfer, CZBank Shanghai Branch Form Cross-Border Finance Partnership
XTransfer has entered into a partnership with the Shanghai branch of China Zheshang Bank (CZBank). The agreement was si... Read more
Brinc Launches VentureVerse Through Acquisition Of OG Club
Brinc, a Hong Kong-based venture acceleration and corporate innovation firm, has acquired OG Club, a decentralised auto... Read more