US Senate Unanimously Backs HK Autonomy Bill
"); jQuery("#212 h3").html("

"); });
2020-06-26 HKT 00:36
The US Senate backed legislation on Thursday that would impose mandatory sanctions on individuals or companies that back efforts by China to restrict Hong Kong's autonomy, as the government in Beijing moves to implement a new security law for the city.
The "Hong Kong Autonomy Act" passed by unanimous consent. To become law, it must also pass the House of Representatives and be signed into law by US President Donald Trump.
Democratic Senator Chris Van Hollen, a lead sponsor, said in the Senate the legislation would send a clear message to Beijing that there would be consequences if it acts to undermine Hong Kong's autonomy.
"This could be our last opportunity to stay Beijing's hand before it destroys what is left of freedom in the city," said Republican Senator Josh Hawley, another sponsor.
The bill almost passed earlier this month, Van Hollen said, but was blocked by Republican Senator Kevin Cramer – who had co-sponsored it – at the request of the Trump administration, which made a late request for technical corrections.
The delay underscored how complicated it can be to pass legislation pushing back on China, as the administration pursues a trade deal with Beijing and the two powerful countries grapple for international influence and clash over human rights.
Sino-US relations have reached their lowest point in years since the coronavirus pandemic, which began in China, hit the United States hard.(Reuters)
______________________________
Last updated: 2020-06-26 HKT 00:51
HSBC Launches TradeCash In Hong Kong To Accelerate Trade Finance Access
HSBC has launched a digital trade finance tool called HSBC TradeCash, allowing businesses in Hong Kong to upload sales ... Read more
HKEX And HKMA Launch Pilot On E-HKD For After-Hours Margin Payments
Hong Kong Exchanges and Clearing Limited (HKEX) and the Hong Kong Monetary Authority (HKMA) have launched a joint pilot... Read more
Can You Trust AI Agents To Stay Within Your Intent?
Checking someone’s ID at the door of a nightclub tells you who they are, but it does not tell you how they will behav... Read more
China CITIC Bank Taps Tencent Cloud For Fintech 2.0 Banking Push In Hong Kong
Tencent Cloud has signed a strategic cooperation agreement with China CITIC Bank International (CNCBI) to support the d... Read more
Payful Launches Cloud-Based Visa Charge Card Programme Via BPC SmartVista
Chinese cross-border payment company Payful has launched a cloud-native Visa charge-card programme for corporate and me... Read more
Hong Kong Banking Taskforce Convenes To Plan Northern Metropolis Financing
The Northern Metropolis Financial Advisory Taskforce held its inaugural meeting on 17 June to discuss the financing nee... Read more
