UK, US, Australia, Canada Express Concern Over Law

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

"); });
2020-05-28 HKT 21:41
The United Kingdom, the United States, Australia and Canada scolded China on Thursday for imposing a new security law that they said would threaten freedom and breach a 1984 Sino-British agreement on the autonomy of the former colony.
"Hong Kong has flourished as a bastion of freedom," the United Kingdom, the United States, Australia and Canada said, adding their "deep concern regarding Beijing's decision to impose a national security law in Hong Kong."
The National People's Congress approved a decision to go forward with national security legislation for Hong Kong that democracy activists in the SAR and Western countries fear could erode its freedoms and jeopardise its role as a global financial hub.
The United Kingdom, the United States, Australia and Canada said the new legislation would "curtail the Hong Kong people's liberties, and in doing so, dramatically erode Hong Kong's autonomy and the system that made it so prosperous".
"China's decision to impose the new national security law on Hong Kong lies in direct conflict with its international obligations under the principles of the legally-binding, UN-registered Sino-British Joint Declaration," they said.
"We are also extremely concerned that this action will exacerbate the existing deep divisions in Hong Kong society," they said in the joint statement.
Beijing says the legislation will aim to tackle secession, subversion, terrorism and foreign interference in the SAR but the plan, unveiled in the capital last week, triggered the first big protests in Hong Kong for months.
"We call on the Government of China to work with the Hong Kong SAR Government and the people of Hong Kong to find a mutually acceptable accommodation that will honour China's international obligations under the UN-filed Sino-British Joint Declaration," the UK-US-Canadian-Australian statement said. (Reuters)
China CITIC Bank Launches Payment Connect Services To Support Cross-Border Transactions
China CITIC Bank International Limited (CNCBI) has announced it will introduce services and a customer offer related to... Read more
Eddid Financial Secures SFC Approval For Digital Asset Services
Hong Kong’s Eddid Financial has announced that its subsidiary, Eddid Securities and Futures, has received approval fr... Read more
Hong Kong Customs Uncovers HK$1.15B Virtual Asset Money Laundering Scheme
Hong Kong Customs has uncovered a suspected money laundering operation involving cash smuggling and virtual assets tota... Read more
Lendela Partners With TransUnion To Launch Free Credit Score Tool In Hong Kong
Lendela, a loan matching platform based in Hong Kong, has partnered with credit reference agency TransUnion through a c... Read more
Hex Trust Appoints Rohit Apte As Head Of Markets
Hex Trust, a digital asset financial institution specialising in custody, staking, and markets services, has appointed ... Read more
Scaling Across APAC: Why Cross-Border Payments Matter More Than Ever
In today’s digital-first economy, the Asia-Pacific (APAC) region has emerged as a global hotspot for fintech innovati... Read more