The “Hong Kong Regional Security Law” has impacted Hong Kong’s democratic freedom and rule of law system, making Hong Kong gradually become an ordinary mainland city under “one country, one system” in the eyes of the international community. On February 16, the British Foreign Office published its latest guidelines for doing business, in which the description of Hong Kong as an “international financial centre” was removed and replaced with “regional hub”. “, and no longer directly describe Hong Kong enjoys a high degree of autonomy. The removal of Hong Kong’s “Gold-painted signboard” is considered by analysts to mean that Hong Kong is no longer an attractive place for international investors.
Apple Daily and Radio Free Asia reported that this is another update to the UK Foreign Office’s guidelines for doing business with Hong Kong after August 2019. In addition to the deletion of the term “international financial center” in the paragraph on Hong Kong’s economy, which was replaced with the term “highly competitive global business hub”, the words “positive and forward-looking relationship with the Hong Kong government” were also deleted.
Meanwhile, the original guidelines described Hong Kong as enjoying a “high degree of autonomy” in areas other than defense and diplomacy, such as the economy and trade, but the new guidelines no longer directly describe Hong Kong as having a “high degree of autonomy,” referring only to the fact that Hong Kong operates under the model of “one country, two systems” and the Sino-British Joint Declaration states that Hong Kong enjoys a high degree of autonomy in other matters.
In particular, the new guidelines mention that the implementation of the National Security Law in Hong Kong allows for in-camera or in-situ interrogation, and that four pro-democracy legislators were disqualified in violation of the Sino-British Joint Declaration. Meanwhile, the National Security Law has infiltrated into academics, campuses and libraries, and political elements in textbooks have been removed as a result. The police also used the National Security Law to arrest protesters and media bosses, Hong Kong may have a chilling effect and self-censorship.
The new guidelines also mention that there is prima facie evidence that companies are being pressured by the Chinese Communist authorities because of their employees’ political views or participation in demonstrations.
The British government’s changing ideology towards Hong Kong
Former HSBC Global Markets economist Lam Ho-por told Apple Daily that after the implementation of the National Security Law, many Western countries have changed their guidelines concerning Hong Kong, reminding their nationals in Hong Kong that the chances of being unreasonably prosecuted may increase, and Australia has even prompted its nationals to reconsider the need to stay in Hong Kong. Australia has even reminded its citizens to reconsider the need to stay in Hong Kong. But the only country that has changed its business guidelines so far is the United Kingdom.
He believes that the British Foreign Office’s deletion of the description of Hong Kong as an “international financial center” reflects an ideological change in the UK’s view that Hong Kong is no longer an attractive place for international investors or a financial center with international objectives. He said this change is also in line with the current situation in Hong Kong, including foreign companies choose to leave Hong Kong, there is no denying the fact that they are wary of using Hong Kong as an investment base or capital raising center, so today the HKEx will find a foreigner to be the CEO, is to make foreign investors to restore confidence in Hong Kong.
In addition, Radio Free Asia reported that the Hong Kong Security Bureau intends to amend the Immigration Ordinance, including the Secretary for Security can empower the Director of Immigration to instruct a means of transport may not carry a specified person, so that the outside world is concerned about the freedom of entry and exit in Hong Kong is restricted.
Taiwan businessmen: Hong Kong lost intermediary status not into direct access to Shanghai and Shenzhen
Taiwan China Economic and Financial Association Deputy Secretary General Zeng Zhichao pointed out that Hong Kong has a specific economic status, the proximity of mainland China, before foreign investors want to enter the Chinese market will be through Hong Kong. But if the Hong Kong government can ban someone from boarding a plane to Hong Kong in the future, it will affect the free market status, and in the long run will definitely affect the business of Hong Kong and Taiwan. At the same Time, all kinds of restrictions, including the control of speech, will cause the loss of talent and overall resources, capital transfer overseas, the long-term development of Hong Kong is very unfavorable.
He also said that when Hong Kong continues to gradually become the same as Chinese cities, coupled with the “Hong Kong National Security Law” under which even Taiwan’s website is blocked, many practices have been no different from China, so that many Taiwanese people said not to do business with Hong Kong. “If the long-term evolution continues, Hong Kong’s international status will slowly become less significant, into the status of Chinese cities, similar to the pace with the mainland, the part of Hong Kong’s free trade port may also be less necessary to do business directly to Shanghai or Shenzhen.”
For outside concerns about the amendment of the Immigration Ordinance, the Hong Kong Government Security Bureau clarified that its purpose is to require inbound rather than outbound flights to provide passenger information. However, a review of the Bill does not specify that only inbound flights. The Chairman of the Hong Kong Democratic Party, Mr. Lo Kin-hei, criticized the authorities for claiming that they would not restrict the freedom to leave Hong Kong, but the Ordinance does not specify any conditions or details of the practice of prohibiting boarding, making it difficult for Hong Kong people, business people and financial institutions elsewhere to be convinced.
The Hong Kong Bar Association submitted a submission on February 11, questioning the amendment would authorize the Bureau to prohibit anyone from leaving Hong Kong. The Bar Association issued a further statement on the evening of February 16, suggesting that the Hong Kong government should further narrow the Bureau’s powers by stating that the Director should only be empowered to prohibit a person from boarding a conveyance for inbound flights, not departing flights. The primary legislation should also further clarify that the power would not affect in any way the rights of Hong Kong residents and persons entitled to enter and remain in Hong Kong.
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