76% of US companies in Hong Kong is concerned about the security bill, the Chamber of Commerce survey finds

76% of US companies in Hong Kong is concerned about the security bill, the Chamber of Commerce survey finds

The majority of companies in the United States in Hong Kong engaged, concerned about the impact of the controversial law on national security recently at the center of China imposed, according to a survey by the American Chamber of Commerce. The advocacy group, said 76% of companies on global measures in question was banned subversion, secession, terrorism and foreign agreements, most are The survey of member companies “very concerned.” – AmCham as “” test the temperature of the members described feelings rather than a scientific study – the responses received from 183 companies, more than half of them based in the United States when he asked what they are most concerned about the law affected companies expressed concerns largely echoed by foreign governments and civil society groups say they have about the ambiguity of the scope and application of the laws are concerned, the threat that estimated the independent judiciary Hong Kong and the risk of the city could lose its status world financial center Poznan. “The potential for arbitrary application of the law on national security is frightening to many and judicial Hong Kong is powerless to protect the people and the rule of law,” said one respondent AmCham. “Some of our employees have already voted with their feet for safer to leave countries. Many others are very concerned and considering their options.” Hong Kong and the Chinese authorities on the continent have the law as a necessary step in months defended at times frustrate violent riots shook the former British colony last year before the World Covid 19-calmed pandemic city protest movement. About 26% of companies said the new law did feel safer, the arguments echo the government on the need for stability – compared to just over 50% who said they did feel less secure law. About 22% of respondents said they were not concerned about the legislation. , Game changer ‘concerns Company for your data security concerns expressed retaliation by foreign governments in the form of export controls or customs duties led, erosion of Hongkongeren granted autonomy and difficulties of setting and move talented employees in the city. Almost half of respondents said that the possibility of extradition to the mainland for a test – which is the new security law allows – was a “game changer” to the family of Hong Kong’s position as an international financial center. Most companies said that adopting a “wait and see” approach to the law, while some companies trade and investment have been reduced in planning Hong Kong, as well as business trips between the cities and states States, while two-thirds of companies said to make their plans, had said about a third would consider goods, capital or business in Hong Kong in motion the medium to long term “.” According to the law of Chinese officials in late May, it was announced details emerged was slowly reveals to the text – initially only in Chinese – on June 30, the eve of the anniversary of the July 1 from British rule in 1997 return of the city. Nearly 70% of AmCham survey respondents said they had to be more and more concerned about the law. “The more I learn, the less I like,” said another respondent from business premises. “We are in China now, there’s no doubt.”
Picture copyright by Billy H. C. Kwok-Bloomberg / Getty Images

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