Pan-dems' Mass Resignation Is A Farce: Beijing
"); jQuery("#212 h3").html("

"); });
2020-11-12 HKT 10:27
Beijing on Thursday condemned pan-democratic lawmakers for announcing they are resigning en masse, describing their plan as “a farce” and “an open challenge against the authority of the Basic Law”.
Just hours after the SAR government announced the immediate disqualification of the Civic Party's Alvin Yeung, Kwok Ka-ki and Dennis Kwok, as well as Kenneth Leung from the Professional Commons, the 15 remaining pan-democratic lawmakers said they would quit in protest at the decision.
In a statement, the Hong Kong and Macau Affairs Office said the camp’s action showed their stubborn resistance against the central government.
A spokesman said it was an open challenge against Beijing’s powers and the authority of the Basic Law.
He said the National People’s Congress Standing Committee (NPCSC) decided in accordance with the law that some lawmakers should be disqualified as they didn't uphold the Basic Law and weren't loyal to the HKSAR.
He said the decision was supported by Hong Kong residents as it is beneficial to the smooth operation of the Legislative Council and the stability of society.
He accused the opposition lawmakers of using their jobs as a political tool, in a bid to smear the NPCSC’s decision as some form of “suppression”.
“This farce has exposed the instinct of some opposition lawmakers who ignore the public interests for their political benefits,” he said.
“They are challenging the Basic Law and the decision by the NPCSC, opposing Beijing’s overall jurisdiction over Hong Kong,”
“If these lawmakers hope to make use of their resignation to provoke radical opposition and beg for foreign interference, they have miscalculated,” he said.
The spokesman also gave recognition to what he called legislators “who were labelled opposition” for choosing to stay, calling it a wise move.
Non-establishment lawmakers, Cheng Chung-tai from Civic Passion and medical sector representative Pierre Chan had said they would not join the mass resignation.
ZA Bank Brings Nasdaq Data To Hong Kong, Expanding US Stock Access And Investor Education
ZA Bank and Nasdaq have announced a collaboration aimed at enhancing digital wealth management in Hong Kong and interna... Read more
Hong Kong To Study One‑Stop Infrastructure For Equities, Bonds And Digital Assets
The Hong Kong Monetary Authority’s (HKMA) CMU OmniClear and the Hong Kong Exchange (HKEX) are set to begin a study on... Read more
Hong Kong To Issue First Stablecoin Licenses In March, Expand Crypto Regulation
Hong Kong will issue its first licenses for fiat-referenced stablecoin issuers in March and introduce new legislation l... Read more
MSIG Joins US$6B IFC Credit Insurance Facility To Boost Emerging Market Lending
MSIG USA and Mitsui Sumitomo Insurance (MSI Japan), together referred to as MSIG, have joined a new insurance-ba... Read more
Why The $2 Trillion Stablecoin Prediction Is Too Low
McKinsey estimates the stablecoin market will hit $2 trillion by 2028. But according to Sam Lin, COO of dtcpay, even th... Read more
RedotPay Eyes US IPO With Potential US$1 Billion Raise
RedotPay is reportedly exploring an IPO in the US that could raise more than US$1 billion, according to people famili... Read more
