WTO Sets Up Panel Over 'Made In HK' Dispute
"); jQuery("#212 h3").html("
"); jQuery(document).ready(function() { jwplayer.key='EKOtdBrvhiKxeOU807UIF56TaHWapYjKnFiG7ipl3gw='; var playerInstance = jwplayer("jquery_jwplayer_1"); playerInstance.setup({ file: "https://newsstatic.rthk.hk/audios/mfile_1577008_1_20210223181054.mp3", skin: { url: location.href.split('/', 4).join('/') + '/jwplayer/skin/rthk/five.css', name: 'five' }, hlshtml: true, width: "100%", height: 30, wmode: 'transparent', primary: navigator.userAgent.indexOf("Trident")>-1 ? "flash" : "html5", events: { onPlay: function(event) { dcsMultiTrack('DCS.dcsuri', 'https://news.rthk.hk/rthk/en/component/k2/1577008-20210223.mp3', 'WT.ti', ' Audio at newsfeed', 'WT.cg_n', '#rthknews', 'WT.cg_s', 'Multimedia','WT.es','https://news.rthk.hk/rthk/en/component/k2/1577008-20210223.htm', 'DCS.dcsqry', '' ); } } }); }); });
2021-02-23 HKT 16:18
Share this story
The SAR government announced on Tuesday that the World Trade Organisation (WTO) has agreed to set up a dispute-settlement panel upon its second request over a decision by the United States to label goods made in Hong Kong as “Made in China”.
Former US president Donald Trump had ordered the change in the labelling of local products amid Sino-US trade tensions, and it has been in effect since mid-November.
In January, the Biden administration blocked the SAR’s first request to raise the issue to the WTO by setting up such a panel.
The world trade body granted the Hong Kong government's second request in a meeting this week.
“The World Trade Organisation (WTO) Dispute Settlement Body agreed at its meeting on February 22 (Geneva time) to Hong Kong's request to establish a 'panel' to consider the dispute raised by Hong Kong with respect to the violation of WTO rules by the United States' new requirement on origin marking for Hong Kong products,” a spokesman for the Commerce and Economic Development Bureau said in a statement.
It said Hong Kong's permanent representative to the WTO, Laurie Lo, spoke at the meeting and stressed that Hong Kong believes the new labelling is unjustifiable, violating certain WTO rules and damaging to the SAR’s interests as a member of the organisation.
It added that so far, 13 WTO members have indicated their interest to join meetings of the panel as third parties.
SBI Holdings To Acquire Bitbank In US$289M Crypto Expansion
SBI Holdings has agreed to acquire Japanese crypto exchange Bitbank in a deal valued at approximately US$289 million, w... Read more
4 Ways Hong Kong Banks Fight Financial Crime Using AI, According To HKMA
The Hong Kong Monetary Authority (HKMA) wants banks to use AI in financial crime as a way to counter cyberattacks and s... Read more
Ripple Launches RLUSD Stablecoin In Japan Through SBI Group
Ripple has launched its US dollar-denominated stablecoin, Ripple USD, in the Japanese market. The expansion follows reg... Read more
SBI And Startale Launch Trust Bank-Backed Yen Stablecoin JPYSC In Japan
SBI Group has introduced its trust based stablecoin JPYSC in partnership with Singapore-based fintech company Startale ... Read more
Visa Study: Digital Wallets Lead Greater Bay Area Payment Preferences
Visa has released its latest Consumer Payment Attitudes Study, highlighting how payment seamlessness is linked to a shi... Read more
European And South Korean Banks Form Project Pangea For FX Settlement
Chainlink, South Korean infrastructure provider FairSquareLab, the Unified Korea Alliance (UniKA), and European stablec... Read more