HK Govt Slams Trump, Downplays Sanctions 'threat'
"); jQuery("#212 h3").html("

"); });
2020-05-30 HKT 20:35
The Hong Kong government has accused US President Donald Trump and the State Department of continuing to "smear and demonise" Beijing's right to safeguard national security in the SAR, rejecting Trump's "false" claim that Hong Kong now operates under 'One Country, One System'.
In a statement issued on Saturday after Trump announced the US will start removing its special treatment for Hong Kong, the SAR government said allegations that people's freedoms will be undermined by the new legislation are "simply fallacious".
It also warned that any sanctions or trade restrictions against Hong Kong would not be justified and would only hurt local and US businesses, but said in any case, the government is not too worried about such "threats".
"We note with deep regret that President Trump and his administration continue to smear and demonise the legitimate rights and duty of our sovereign to safeguard national security in the Hong Kong Special Administrative Region (HKSAR) which in turn is aimed at restoring stability to Hong Kong society. Our society has been traumatised by escalating violence and threats of terrorism over the past year," the statement said.
"Hong Kong is an inalienable part of China. Any suggestion that the People's Republic of China does not have the right to protect its own territory from separatists, terror and anarchy does not stand up to scrutiny and smacks of hypocrisy and double standards."
Noting that every country has national security laws, the government said it doesn't believe that having such legislation in place in Hong Kong gives "rise to fears of the loss of liberties by its people that will warrant international debate or interference by another country".
The government noted that the Hong Kong and Macau Affairs Office stated on Friday that the new legislation will not change the "high degree of autonomy enjoyed by the HKSAR" and won't have any impact on the city's judicial independence.
"President Trump's claim that Hong Kong now operated under 'one country, one system' was completely false and ignored the facts on the ground," the government said.
It pointed out that many of Hong Kong's agreements with the US and other countries in areas such as trade, investment protection and mutual legal assistance are underpinned by multilateral institutions such as the World Trade Organisation and "they are not a 'gift' to Hong Kong by another jurisdiction".
"We do not believe that sanctions or trade restrictions against Hong Kong are justified. They will lead to a breakdown of the mutually beneficial Hong Kong-US relationship built up over the years and only hurt local and US businesses in Hong Kong and the people working for them," the statement said.
"We are not unduly worried by such threats as Hong Kong will continue to rely on her fundamental strengths of the rule of law, independence of the judiciary, free and open trade policy, level playing field, etc. and unique advantages brought about by the continuous opening up of the mainland economy."
HSBC Launches TradeCash In Hong Kong To Accelerate Trade Finance Access
HSBC has launched a digital trade finance tool called HSBC TradeCash, allowing businesses in Hong Kong to upload sales ... Read more
HKEX And HKMA Launch Pilot On E-HKD For After-Hours Margin Payments
Hong Kong Exchanges and Clearing Limited (HKEX) and the Hong Kong Monetary Authority (HKMA) have launched a joint pilot... Read more
Can You Trust AI Agents To Stay Within Your Intent?
Checking someone’s ID at the door of a nightclub tells you who they are, but it does not tell you how they will behav... Read more
China CITIC Bank Taps Tencent Cloud For Fintech 2.0 Banking Push In Hong Kong
Tencent Cloud has signed a strategic cooperation agreement with China CITIC Bank International (CNCBI) to support the d... Read more
Payful Launches Cloud-Based Visa Charge Card Programme Via BPC SmartVista
Chinese cross-border payment company Payful has launched a cloud-native Visa charge-card programme for corporate and me... Read more
Hong Kong Banking Taskforce Convenes To Plan Northern Metropolis Financing
The Northern Metropolis Financial Advisory Taskforce held its inaugural meeting on 17 June to discuss the financing nee... Read more
