Sanctions Law Counters US Meddling

Secretary for Commerce & Economic Development Edward Yau today said the anti-sanctions law upholds the rights of people doing business in Hong Kong to act against the unnecessary interference of the US.

At a media session, Mr Yau noted the legislation passed by the National People’s Congress Standing Committee was in response to the US administration's actions.

“It is a reaction to the blatant interference of the US imposing sanctions on our country and Hong Kong. It is a matter of a natural response against such blatant interference.”

The detailed legislative arrangement and implementation in the Hong Kong Special Administrative Region will depend on the National People’s Congress’ further instruction, he added.

Mr Yau also pointed out that international business communities are fully aware of the geopolitical tension introduced by the US, and are taking a pragmatic approach and seeing the actual situation in Hong Kong.

“For instance, some of the attempts, measures or tactics adopted by the US in interfering in the US businesses in Hong Kong have been reacted to by their own chamber in Hong Kong in a very pragmatic manner.”

The city remains an open, competitive and attractive place for business and investment, the commerce chief reiterated.

“Looking back, while Hong Kong suffered from social unrest and the (COVID-19) pandemic situation, foreign investment in Hong Kong and foreign firms in Hong Kong have not seen any sort of major reduction.”