US Sanctions 14 Beijing Officials Over HK Expulsions
"); jQuery("#212 h3").html("

"); });
2020-12-08 HKT 00:27
The United States on Monday imposed financial sanctions and a travel ban on 14 mainland officials over their alleged role in Beijing's disqualification last month of elected opposition legislators in Hong Kong.
The move, which sent Asian stock markets lower after it was reported on Monday, targeted the vice chairpersons of the National People’s Congress Standing Committee (NPCSC), the top decision-making body of the Chinese legislature.
The action was widely seen as part of an effort by outgoing US President Donald Trump to cement his tough-on-China legacy and also box president-elect Joe Biden, before he takes office on January 20, into hardline positions on Beijing at a time of bipartisan anti-China sentiment in Congress.
The Trump administration earlier slapped sanctions on Chief Executive Carrie Lam, current and former police chiefs and other top officials in August for what it said was their role in curtailing freedoms in a crackdown on the territory’s pro-democracy movement.
"Beijing’s unrelenting assault against Hong Kong’s democratic processes has gutted its Legislative Council, rendering the body a rubber stamp devoid of meaningful opposition," US Secretary of State Mike Pompeo said in a statement.
Hong Kong government last month expelled four opposition members from the legislature after the NPC gave SAR authorities new powers. The move triggered mass resignations by pro-democracy lawmakers.
White House national security adviser Robert O’Brien said in November the expulsion showed the “One Country, Two Systems” formula was now “merely a fig leaf”, and he promised further US action.
Pompeo said the NPCSC has effectively "neutered" the ability of people in Hong Kong to choose their elected representatives. "These actions demonstrate once again Beijing’s complete disregard for its international commitments under the Sino-British Joint Declaration, a UN-registered treaty."
The sanctions prohibit the 14 individuals and their immediate members from traveling to the United States. Any assets the officials might have within the United States will be blocked and US individuals and companies will be banned from dealing with them.
The news kept global markets on edge as investors fretted over fresh Sino-US tensions, which offset bets over more stimulus in Europe and the United States. (Reuters)
______________________________
Last updated: 2020-12-08 HKT 09:03
Vietnam And South Korea Launch Cross-Border QR Payments
Vietnam and South Korea have launched cross-border QR payments that allow Korean users to pay merchants in Vietnam thro... Read more
WeChat Pay Integrates With Local QR Networks In 5 Asian Countries
WeChat Pay has integrated its service with national QR code networks in five Asian countries, simplifying cross-border ... Read more
Global Transition Finance Ecosystem Gains Momentum
The global transition finance ecosystem is gaining momentum. According to new research by the Hong Kong Institute for M... Read more
Banking Circle Taps PayGate To Ease KRW Cross-Border Payments Into South Korea
Global payments bank Banking Circle will now handle cross-border transactions and settlement flows for South Korean pay... Read more
Equinix AI Discovery Hub Opens In Hong Kong For Enterprise AI
Digital infrastructure company Equinix is partnering with Hewlett Packard Enterprise (HPE) to launch the Equinix AI Dis... Read more
Tencent, Alibaba Eye DeepSeek Stake As AI Startup Tops US$20B Valuation
Chinese tech giants Tencent and Alibaba are in discussions to invest in AI startup DeepSeek, The Information reported, ... Read more
