Tariffs A Yellow Card Warning To Beijing: US Envoy
"); jQuery("#212 h3").html("

"); });
2018-04-24 HKT 18:21
The US Consul General in Hong Kong, Kurt Tong, has warned that trade tariffs imposed by Washington are a yellow card warning to Beijing to play by the rules, and said Hong Kong is a prime example of how prosperity and the rule of law can go hand in hand.
"Yellow cards are an opportunity for a player to change their style of play before someone gets hurt," Tong said, using football terms to explain his point.
Tong, who had previously served in the US State Department's Bureau of Economic and Business Affairs, said the SAR's success is rooted in its autonomy, independent judiciary, freedom of expression and liberal trade and tax policies.
The envoy, speaking at the Foreign Correspondents' Club, said the US has taken trade tariff actions despite the knowledge that China will retaliate.
But he rejected a fear that Hong Kong will get caught in the crossfire between the two countries and said the situation can be an opportunity to demonstrate its value as a "transformative portal" linking China with the rest of the world economy.
"Hong Kong in fact is the most visible example that an economy can be a part of China, but also be consistent with global best practices," he said.
"This is possible because of Hong Kong's rules-based approach to commerce and regulation, in its fiercely independent judiciary, in its freedom of expression and freedom of internet and its highly liberal trade, investment and tax policy," he said.
Answering a question later, Tong said the latest US human rights report flags fears for Hong Kong's high degree of autonomy, and he said he has expressed concern over the "central government's actions that occasionally seem to be inconsistent with its commitment" to this.
Hong Kong Fund Industry May Double With Tokenised Finance And 24/7 Trading Access
Hong Kong could potentially double the size of its fund industry by moving from legacy infrastructure to token-based fi... Read more
HKMA Alerts Public To Scam Website And Login Screens Posing As Official Site
The Hong Kong Monetary Authority (HKMA) has issued a public alert regarding a fraudulent website and online login scree... Read more
Hong Kong Fintech Promotion Blueprint Indicates 4 Incoming Flagship Projects
The Hong Kong Monetary Authority (HKMA) released the Hong Kong Fintech Promotion Blueprint on 3 February 2025, which sh... Read more
Visa To Enable Cross-Border Payments To 95% Of UnionPay Cardholders In China
At Web Summit Qatar, Visa and UnionPay International (UPI) announced an agreement to enable cross-border money transfer... Read more
HKMA Launches Fintech Blueprint With AI, DLT, Quantum And Cybersecurity Focus
The Hong Kong Monetary Authority (HKMA) published a Fintech Promotion Blueprint to support responsible innovation and f... Read more
How Gaming Giants Are Redefining The Experience Of Paying
Gaming isn’t just a hobby; it’s a global infrastructure challenge. In this episode Vincent Fong (Chief Editor, Fint... Read more
