Sino-UK Relations 'will Worsen After BN(O) Move'

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

"); jQuery(document).ready(function() { jwplayer.key='EKOtdBrvhiKxeOU807UIF56TaHWapYjKnFiG7ipl3gw='; var playerInstance = jwplayer("jquery_jwplayer_1"); playerInstance.setup({ file: "https://newsstatic.rthk.hk/audios/mfile_1539424_1_20200723131857.mp3", skin: { url: location.href.split('/', 4).join('/') + '/jwplayer/skin/rthk/five.css', name: 'five' }, hlshtml: true, width: "100%", height: 30, wmode: 'transparent', primary: navigator.userAgent.indexOf("Trident")>-1 ? "flash" : "html5", events: { onPlay: function(event) { dcsMultiTrack('DCS.dcsuri', 'https://news.rthk.hk/rthk/en/component/k2/1539424-20200723.mp3', 'WT.ti', ' Audio at newsfeed', 'WT.cg_n', '#rthknews', 'WT.cg_s', 'Multimedia','WT.es','https://news.rthk.hk/rthk/en/component/k2/1539424-20200723.htm', 'DCS.dcsqry', '' ); } } }); }); });
2020-07-23 HKT 14:22
Lau Siu-kai talks to RTHK's Damon Pang
A vice-president of Beijing's top think-tank on Hong Kong, Lau Siu-kai, said Beijing will likely retaliate against the UK's financial and economic interests, following the announcement allowing Hong Kong residents to claim British citizenship.
Lau, from the Chinese Association of Hong Kong and Macau Studies, said given how Britain needs stronger ties with China after Brexit, bilateral relations will now suffer on the economic front.
He cited action taken by the British government "...not only in relation to the BN(O) [situation] but also prohibiting Huawei from doing business in the UK".
"I cannot anticipate what Beijing is going to do, but obviously Beijing would do something like change their British financial and commercial interests," he said, adding that for example, it's unlikely that Beijing would continue trying to develop London as a major overseas renminbi centre.
He told RTHK's Damon Pang that he doesn't think the Hong Kong economy will be affected by the UK's new policy because there won't be "a very large number of people" who will take up the BN(O) scheme and emigrate to Britain.
"Hong Kong will always import talents from abroad to take up the place left behind by the emigrants," Lau said.
Lau's comments come after the UK government announced BN(O) passport holders in Hong Kong and those eligible for one can begin applying for a visa to the UK from next year, paving the way for citizenship.
The Chinese embassy in London hit back, saying the move "severely violated (Britain's) own commitments, seriously interfered with the internal affairs of China and seriously violated international law and the basic norms of international relations".
HK Police And Regional Partners Arrest Over 1,800 In Cross-Border Scam Crackdown
In a major cross-border crackdown, Hong Kong police and law enforcement agencies from six countries and regions arreste... Read more
Tiger Brokers To Double Hong Kong Team As It Targets Offshore Chinese Wealth
Online brokerage Tiger Brokers intends to increase its Hong Kong headcount by two times to capture more offshore Chines... Read more
Behind The Unicorn: The Startup Struggles You Dont See Ft. Tessa Wijaya, Xendit
In this episode of Fintech Fireside Asia, I sit down with Tessa Wijaya, Co-founder and COO of Xendit, one of Southeast ... Read more
SFC Updates Guidance To Non-Face-to-Face Account Opening
The Securities and Futures Commission (SFC) has updated its guidance on acceptable non-face-to-face (NFTF) account open... Read more
NTTs Mobile Arm Set To Acquire SBI Sumishin Net Bank In US$5.1 Billion Deal
NTT Docomo, the mobile arm of Nippon Telegraph and Telephone (NTT), has announced plans to acquire online bank SBI Sumi... Read more
Visa Click To Pay Goes Live In Hong Kong Via ZA Bank
Visa, a digital payments provider, has announced a partnership with ZA Bank to roll out Click to Pay in Hong Kong today... Read more