Majority Of US Firms In HK Fear New Law: AmCham

An overwhelming majority of US firms in Hong Kong responding to an American Chamber of Commerce survey published on Wednesday said they are concerned about Beijing's move to impose national security legislation on the SAR.

The survey, to which 180 or 15 percent of Amcham members responded on June 1-2, showed 30 percent of respondents were "moderately" concerned and 53.3 percent were "very concerned" about the legislation, which aims to tackle secession, subversion, terrorism and foreign interference.

The legislation, which could also see mainland intelligence agencies set up bases in the city, has sent ripples through the legal, diplomatic and business communities amid concerns it could erode rights and freedoms.

Beijing and SAR authorities have repeatedly said it would not affect Hong Kong's high degree of autonomy.

About 60 percent of the respondents thought the legislation would harm their business operations, citing concerns about ambiguity in scope and enforcement, erosion of autonomy, talent drain, Hong Kong's international status, social unrest and the independence of the justice system among others.

Some 30 percent of the respondents said they were considering moving capital, assets or business operations from Hong Kong. (Reuters)