Start Eliminating Special Treatment For HK: Trump

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

Related News Programmes

"); });

2020-05-30 HKT 03:13

Share this story

facebook

  • Start eliminating special treatment for HK: Trump

US President Donald Trump said on Friday he was directing his administration to begin the process of eliminating special treatment for Hong Kong, in response to Beijing's plans to impose new security legislation in the territory.

Trump made the announcement at a White House news conference, saying Beijing had broken its word over Hong Kong's autonomy. He said its move against Hong Kong was a tragedy for the people of Hong Kong, the mainland and the world.

"We will take action to revoke Hong Kong's preferential treatment," he said, adding that the United States would also impose sanctions on individuals seen as responsible for smothering Hong Kong's autonomy.

Trump's move follows Chinese plans to impose new national security legislation on the former British colony. Secretary of State Mike Pompeo has said the territory no longer warrants special treatment under US law that has enabled it to remain a global financial centre.

Trump said he was directing his administration to begin the process of eliminating policy agreements on Hong Kong, ranging from extradition treatment to export controls.

He said he would also issue a proclamation on Friday to better safeguard vital university research by suspending the entry of foreign nationals from China identified as potential security risks.

Sources, including a current US official, told Reuters on Thursday that the latter move, which had been expected, could impact 3,000 to 5,000 Chinese graduate students. (Reuters)

______________________________



Last updated: 2020-05-30 HKT 03:35

RECENT NEWS

China To Inject US$44 Billion Into State Banks To Boost Tech And Curb Risks

China said it will inject 300 billion yuan (US$44 billion) into state-owned banks this year to guard against systemic r... Read more

Hong Kong Regulators Expand GenAI Sandbox To Insurance, Securities And MPF Sectors

The Hong Kong Monetary Authority (HKMA), Securities and Futures Commission (SFC), Insurance Authority (IA), and Mandato... Read more

South Korea To Cap Crypto Exchange Ownership At 20%

South Korean regulators and lawmakers have agreed to cap major shareholder stakes in cryptocurrency exchanges at 20%, d... Read more

DBS Hong Kong Partners With Know Your Customer To Automate SME Onboarding

Know Your Customer Limited, a provider of automated business verification solutions, has partnered with DBS Hong Kong t... Read more

Hong Kong Banks Extend Loan Repayment Relief For Tai Po Fire Victims

The Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB) have met to discuss additional su... Read more

Hong Kong And Macao Deepen Financial Cooperation With Updated Agreement

The Hong Kong Monetary Authority (HKMA) and the Monetary Authority of Macao (AMCM) held a meeting on March 3 to strengt... Read more