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.
HSBC, StanChart, Alibaba Cloud Among First Cohort Of HKMAs Gen AI Sandbox
The Hong Kong Monetary Authority (HKMA) and Cyberport have announced the first cohort of its Generative Artificial Inte... Read more
QuickFest 2025 To Focus On AI, Automation, And The Future Of Accounting
QuickFest, the virtual conference tailored for accounting professionals, bookkeepers, and consultants, will return on 1... Read more
5 Stories That Shaped Hong Kongs Fintech Scene In 2024
In 2024, Hong Kong further cemented its position as a leading fintech hub in the world, with the number of fintech comp... Read more
Top 11 Fintech Events In Hong Kong, Japan And Korea In 2025
East Asian countries, especially Hong Kong, China and South Korea, have become global hotspots for fintech innovation, ... Read more
Hong Kong SFC Grants Four VATP Licences, Boosting Virtual Asset Growth
The Securities and Futures Commission (SFC) announced today that it has granted Hong Kong VATP licences to four virtual... Read more
ZA Bank Chief Exec Ronald Iu Reportedly Stepping Down, May Join PAObank
Chief Executive of Hong Kong’s ZA Bank, Ronald Iu, is reportedly planning to step down early next year, according to ... Read more