Legco President Rejects Bid For Debate On US Move

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

"); });
2020-07-15 HKT 12:43
The Legislative Council President Andrew Leung on Wednesday rejected a request for an adjournment to debate the US decision to withdraw Hong Kong’s special trade status with Washington, saying there is no urgency as the bill has been already approved by President Donald Trump.
This came as Civic Passion’s Cheng Chung Tai requested a debate on the issue saying the US move has seriously affected the social, economic and livelihood interests of Hong Kong.
But Leung said there was no urgency as Trump has already signed an executive order on this. He said lawmakers can follow up on the issue through different channels and there was no need to adjourn the debate in the Legislative Council.
He pointed out that this was the last meeting of the current Legco session and bills on the agenda must be dealt with at this meeting.
Meanwhile New People's Party chairwoman Regina Ip told the media that Washington’s move was barbaric and unreasonable, saying it will only help to reduce US influence in Hong Kong.
She said Hong Kong people's access to US visas will be affected though she doubted if many Hongkongers want to go there now due to the epidemic situation there and racial discrimination. But she said some academic exchanges and some tax arrangements will be affected.
The former security minister said the move will affect Hong Kong's international status but she thinks the city's status as an international finance centre won't be affected much.
“I don’t think there will be any impact on the HongKong-US dollar link exchange rate. There are no direct measures affecting that,” she said.
Revolut Considers China Expansion Amid UK Regulatory Hurdles
UK fintech giant Revolut is exploring a potential move into China, setting the stage for competition with domestic heav... Read more
ZA Global Backs RD Technologies With US$40M To Boost HKs Stablecoin Ecosystem
ZA Global has led a US$40 million Series A2 funding round for HK fintech firm, RD Technologies (RD), marking a signific... Read more
WeLab Hit Profitability And Now Wants 500 Million Customers Across Asia
From its humble beginnings as an online lender to its rise as one of Asia’s most ambitious fintechs, WeLab Group (WeL... Read more
HKMA Finalises Guidelines For Stablecoin Issuer Regulatory Regime
The Hong Kong Monetary Authority (HKMA) has published several documents in preparation for the implementation of the re... Read more
Cybercrime Is Surging Across APAC Yet Defences Remain Fragmented
APAC saw a sharp rise in human-led attacks in 2024, with attack rates growing over 60% year-on-year and increasing 37% ... Read more
Hong Kong Advances Trade Digitalisation With MLETR Adoption
Digitalisation is reshaping the global economy, and businesses must adapt to capitalise on emerging opportunities. In t... Read more