U.S. lawmakers warn Hong Kong becoming financial crime hub
Trending News
3 weeks, 6 days ago

U.S. lawmakers warn Hong Kong becoming financial crime hub

Raw Story  

U.S. lawmakers urged the government Monday to rethink banking ties with Hong Kong, citing its "increasing role" in money laundering, sanctions evasions and reported funneling of banned technology to Russia. Since Beijing imposed a sweeping national security law on the semi-autonomous Chinese city in 2020, "Hong Kong has shifted from a trusted global financial center to a critical player in the deepening authoritarian axis of the People's Republic of China, Iran, Russia, and North Korea," the US Select Committee on the Chinese Communist Party said in a letter to Treasury Secretary Janet Yellen. The security law -- put in place after huge democracy protests roiled the city -- "effectively subjects Hong Kong to PRC control," the lawmakers said. "We must now question whether longstanding U.S. policy towards Hong Kong, particularly towards its financial and banking sector, is appropriate," the letter said.

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History of this topic

Hong Kong is becoming a hub for financial crime, US lawmakers say
4 weeks ago

Hong Kong is becoming a hub for financial crime, US lawmakers say

CNN  

Hong Kong CNN — Hong Kong has become a center for money laundering and sanctions evasion under the tightening grip of Beijing, US lawmakers have warned, calling for a re-evaluation of America’s close business relationship with the Asian financial hub. In a letter to US Treasury Secretary Janet Yellen Monday, bipartisan leaders of the House Select Committee on China demanded …

Hong Kong is becoming hub for financial crime, US lawmakers say
Trending News
4 weeks ago

Hong Kong is becoming hub for financial crime, US lawmakers say

Live Mint  

Leading China hawks in the U.S. House of Representatives are calling for a rethink on whether Hong Kong should continue to enjoy the cozy banking relationship it has with the U.S., saying the city is becoming a hub for money-laundering and sanctions evasion. Hong Kong has turned into a major center for the export of controlled Western technology to Russia; …

US, Canadian politicians urged to stop meddling in Hong Kong's judiciary
1 month ago

US, Canadian politicians urged to stop meddling in Hong Kong's judiciary

China Daily  

HONG KONG -- A spokesperson for the Commissioner's Office of the Chinese Foreign Ministry in the Hong Kong Special Administrative Region has slammed certain US and Canadian politicians over new visa restrictions vow following the HKSAR's lawful verdict of rioters. The irresponsible remarks were made by the spokesperson of the US State Department, the relevant bodies and members of the …

US bill on Hong Kong trade offices draws rebuke from city
3 months, 1 week ago

US bill on Hong Kong trade offices draws rebuke from city

Hindustan Times  

Hong Kong lashed out Wednesday at the US House of Representatives for passing a bill that could potentially shut the Chinese city's trade outposts across the United States. US bill on Hong Kong trade offices draws rebuke from city The US House voted overwhelmingly in favour of the Hong Kong Economic and Trade Office Certification Act, which would require a …

Hong Kong court edges closer to sentencing democracy activists involved in unofficial primary
5 months, 4 weeks ago

Hong Kong court edges closer to sentencing democracy activists involved in unofficial primary

Associated Press  

HONG KONG — A Hong Kong court on Tuesday began mitigation hearings for prominent pro-democracy activists who were convicted under a national security law and now face up to life in prison. The judges wrote in their verdict last month that Tai had laid out plans to block city budgets by acquiring a legislative majority, calling it a “constitutional weapon …

Sanctions shine spotlight on chaos causer in Hong Kong
6 months, 3 weeks ago

Sanctions shine spotlight on chaos causer in Hong Kong

China Daily  

A view of the Victoria Harbor in Hong Kong. The US government on Friday expressed its deep concerns about the convictions of 14 lawbreakers in Hong Kong under the National Security Law of Hong Kong, saying it's taking steps to impose new visa restrictions on officials from both the Chinese mainland and Hong Kong who are responsible for the implementation …

US plans to impose new visa restrictions on Chinese and Hong Kong officials after security verdicts
6 months, 3 weeks ago

US plans to impose new visa restrictions on Chinese and Hong Kong officials after security verdicts

Associated Press  

HONG KONG — The United States on Friday expressed its deep concerns about the convictions of 14 pro-democracy activists in Hong Kong under a Beijing-imposed national security law, saying it’s taking steps to impose new visa restrictions on mainland Chinese and Hong Kong officials responsible for the implementation of the sweeping legislation. Miller urged the Chinese and Hong Kong authorities …

US treads carefully in responding to Hong Kong’s new national security law
8 months, 2 weeks ago

US treads carefully in responding to Hong Kong’s new national security law

Associated Press  

WASHINGTON — The U.S. has denounced Hong Kong’s new national security law as a tool to potentially silence dissent both at home and abroad, but so far the action from Washington has been notably muted, disappointing those fighting for the Chinese territory’s democracy and freedoms. “Moreover, it’s not entirely clear that any specific actions from Washington would prompt Beijing to …

Beneath the calm, Hong Kong’s new security law drives deeper, quieter changes
8 months, 2 weeks ago

Beneath the calm, Hong Kong’s new security law drives deeper, quieter changes

Associated Press  

HONG KONG — On the surface, life in Hong Kong after a broad new national security law recently took effect appears unchanged. Instead, there’s a deeper, quieter wave of adaptation underway among Hong Kong residents who are living under the threat of more extensive restrictions after the Safeguarding National Security Ordinance took effect on March 23. Those steps, taken even …

The US Must Respond to Hong Kong’s New Security Law
8 months, 2 weeks ago

The US Must Respond to Hong Kong’s New Security Law

The Diplomat  

The push last month by Hong Kong to legislate a rigorous national security law, also known as the Article 23 legislation, within 12 days drew world-wide criticism. This development, aimed at embedding China’s national security edicts within Hong Kong’s legal framework, is a clear sign of eroding freedoms in a city once renowned for its autonomy and vibrant open society. …

Watch | What is Hong Kong’s new national security law?
8 months, 3 weeks ago

Watch | What is Hong Kong’s new national security law?

The Hindu  

On March 19th, the Hong Kong government passed a new national security law that has been criticised by several Western countries and rights groups The Safeguarding National Security law revises the existing regulations and penalties, and adds five new categories of offences — treason, insurrection, espionage and theft of state secrets, sabotaging national security, and external interference Some of these …

Explained: What is Hong Kong’s new security law, and what does Article 23 specify
8 months, 4 weeks ago

Explained: What is Hong Kong’s new security law, and what does Article 23 specify

The Hindu  

The story so far: Hong Kong’s new security law has drawn widespread criticism from several Western countries, the United Nations and human rights groups, which contend that the “rushed” legislation will further threaten freedom and empower the government to suppress dissent in the financial hub. “New legislation under Article 23 will bring a further devastating blow to the city’s autonomy, …

Hong Kong’s new security law comes into force amid human rights concerns
9 months ago

Hong Kong’s new security law comes into force amid human rights concerns

Al Jazeera  

The law, known as Article 23, has been criticised internationally over fears it could erode civil liberties. A new national security law has come into force in Hong Kong despite growing international criticism that it could erode freedoms in the China-ruled city and damage its international financial hub credentials. The law, also known as Article 23, came into at midnight …

China blasts criticism of Hong Kong security law
9 months ago

China blasts criticism of Hong Kong security law

The Hindu  

China blasted critics of Hong Kong's new national security law on Wednesday, after Western powers and the United Nations said it would further curtail freedoms in the finance hub. Beijing's foreign ministry spokesman Lin Jian fired back on Wednesday, telling reporters that "attacks and smears" against the new Hong Kong law by other governments and outside groups were "doomed to …

Hong Kong passes a new security law that toughens punishment of dissent
9 months ago

Hong Kong passes a new security law that toughens punishment of dissent

NPR  

Hong Kong passes a new security law that toughens punishment of dissent Enlarge this image toggle caption Peter Parks/AFP via Getty Images Peter Parks/AFP via Getty Images Hong Kong lawmakers have passed new national security legislation that carries severe punishment for a broad range of offenses, including life imprisonment for acts deemed to be insurrection. The legislation, called the Safeguarding …

There are renewed efforts in Hong Kong to push for tighter national security laws
10 months, 3 weeks ago

There are renewed efforts in Hong Kong to push for tighter national security laws

NPR  

There are renewed efforts in Hong Kong to push for tighter national security laws STEVE INSKEEP, HOST: The government of Hong Kong is discussing even tighter national security laws. And then on the foreign organization side, what you've seen is an effort by the Hong Kong government over the past year to target exile organizations here in Washington and London …

Hong Kong begins legislative push to pass new national security laws
10 months, 3 weeks ago

Hong Kong begins legislative push to pass new national security laws

Al Jazeera  

New offences covered under the proposed laws will include treason, insurrection and espionage. Hong Kong’s government said it has started work on new national security laws it intends to pass soon, four years after China imposed sweeping legislation in the wake of massive pro-democracy protests. John Lee, chief executive of the semi-autonomous city, said on Tuesday that while Hong Kong …

Hong Kong, Facing an Exodus, Offers Money for Babies
1 year, 1 month ago

Hong Kong, Facing an Exodus, Offers Money for Babies

Live Mint  

The city has lost its appeal to some residents over the last four years, hurt by strict rules during the Covid-19 pandemic, anxieties about the growing political influence of Beijing, and competition from Singapore and elsewhere. Those who choose to remain in the city are increasingly opting out of having children: Hong Kong’s fertility rate is the lowest in the …

Hong Kong cuts taxes for foreign home buyers and stock traders as it seeks to maintain global status
1 year, 1 month ago

Hong Kong cuts taxes for foreign home buyers and stock traders as it seeks to maintain global status

Associated Press  

HONG KONG — Hong Kong’s leader on Wednesday cut taxes for some homebuyers and stock traders to boost markets as the city seeks to maintain its reputation as a global financial hub. Foreign professionals working in Hong Kong on eligible visa programs are no longer required to pay extra property stamp duties arising from their non-permanent residency unless they fail …

Hong Kong's new plan to restore business confidence: Offices for…
1 year, 8 months ago

Hong Kong's new plan to restore business confidence: Offices for…

Hindustan Times  

Hong Kong's government announced a series of measures on Friday to attract wealthy family offices to set up in the financial hub as authorities try to restore business confidence and investor allure after three years of severe COVID-19 rules. "The policy statement demonstrates our determination to develop Hong Kong into a leading global family office hub," Paul Chan, the city's …

Xi’s Hong Kong visit marks its new era under Beijing’s control
2 years, 5 months ago

Xi’s Hong Kong visit marks its new era under Beijing’s control

LA Times  

Chinese President Xi Jinping delivers a speech after arriving in Hong Kong to mark the 25th anniversary of the city’s handover to China from Britain. Even before he set foot in Hong Kong, Chinese President Xi Jinping’s intent was clear: to usher in the city’s next chapter under the firm grip of Communist Party rule. “This is an opportunity to …

The rapidly rising price of liberty in Beijing-repressed Hong Kong
2 years, 8 months ago

The rapidly rising price of liberty in Beijing-repressed Hong Kong

Live Mint  

Speaking in Dublin in 1790, the Irish politician and judge John Philpot Curran said, “The condition upon which God hath given liberty to man is eternal vigilance,” a pithier version of which has since been ascribed to many, including Thomas Jefferson. That left you with Hong Kong, a British colony till June 1997 that did not have a representative electoral …

Hong Kong tries to ‘relaunch’ its economy by lifting flight bans and cutting quarantine
2 years, 9 months ago

Hong Kong tries to ‘relaunch’ its economy by lifting flight bans and cutting quarantine

CNN  

Hong Kong CNN Business — Hong Kong announced Monday that it would lift flight bans and shorten quarantine requirements after two years of tough Covid restrictions that have hurt the city’s economy and standing among global business. Lam said the bans weren’t necessary anymore since the coronavirus situation in Hong Kong was no longer any better than in other countries. …

Hong Kong could stay COVID hermit until 2024, business body warns
2 years, 10 months ago

Hong Kong could stay COVID hermit until 2024, business body warns

Al Jazeera  

Hong Kong’s zero-tolerance approach to Covid-19 could keep the Asian financial hub cut off from most of the world until 2024 and fuel a large-scale exodus of international workers and executives, according to a draft report by the European Chamber of Commerce in the city. A reopening could then happen late next year or early 2024, the document said, adding …

Hong Kong loses shine amid tough coronavirus restrictions
3 years ago

Hong Kong loses shine amid tough coronavirus restrictions

Associated Press  

HONG KONG — The bustling, cosmopolitan business hub of Hong Kong may be losing its shine among foreign companies and expatriates with its stringent anti-pandemic rules requiring up to 21 days of quarantine for new arrivals. Hong Kong leader Carrie Lam said Dimon was given an exception related to the economy and that JPMorgan “is a very huge bank with …

China slams US for offering residents from Hong Kong safe haven
3 years, 4 months ago

China slams US for offering residents from Hong Kong safe haven

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The Chinese foreign ministry spokesperson in Hong Kong condemned …

AP Interview: US firms in Hong Kong face risks, says AmCham
3 years, 5 months ago

AP Interview: US firms in Hong Kong face risks, says AmCham

Associated Press  

HONG KONG — U.S. businesses operating in Hong Kong should reassess their operations and decide if the risks of operating there are worth the reward, the president of the American Chamber of Commerce in Hong Kong said in an interview Monday with The Associated Press. The Biden administration cited Hong Kong’s shifting legal landscape and tightening control by the communist …

US sanctions Chinese officials over Hong Kong democracy crackdown
3 years, 5 months ago

US sanctions Chinese officials over Hong Kong democracy crackdown

Al Jazeera  

Latest move in response to Beijing’s clampdown is seen by analysts as symbolic as business community still wants market access. The sanctions, posted by the US Treasury Department on Friday, are aimed at individuals from China’s Hong Kong liaison office, used by Beijing to orchestrate its policies in the Chinese territory. US Secretary of State Antony Blinken said that Chinese …

US Sanctions Chinese Officials Over Hong Kong Democracy Crackdown
3 years, 5 months ago

US Sanctions Chinese Officials Over Hong Kong Democracy Crackdown

News 18  

The United States imposed sanctions on Friday on seven Chinese officials over Beijing's crackdown on democracy in Hong Kong, Washington's latest effort to hold China accountable for what it calls an erosion of rule of law in the former British colony. The sanctions, posted by the U.S. Treasury Department, target individuals from China's Hong Kong liaison office, used by Beijing …

Biden to warn US companies about doing business in Hong Kong
3 years, 5 months ago

Biden to warn US companies about doing business in Hong Kong

Associated Press  

WASHINGTON — The Biden administration is expected to issue a blanket warning to U.S. firms about the risks of doing business in Hong Kong as China continues to clamp down on political and economic freedoms in the territory. President Joe Biden told reporters Thursday that the alert would point out deteriorating free market conditions in Hong Kong, which was once …

China says US is trying to mislead foreign firms on Hong Kong
3 years, 5 months ago

China says US is trying to mislead foreign firms on Hong Kong

Live Mint  

The U.S. is trying to mislead American and international companies in Hong Kong by discrediting a Beijing-imposed national security law and the Asian financial hub’s business environment, China’s Foreign Ministry said in a statement. In a statement on Wednesday, China’s Foreign Ministry office in Hong Kong said the city’s business environment for foreign investors had become safer, more stable and …

UK, US condemn China’s overhaul of Hong Kong elections
3 years, 8 months ago

UK, US condemn China’s overhaul of Hong Kong elections

Al Jazeera  

The United Kingdom and the United States have strongly condemned moves by China to further reduce political participation and representation in Hong Kong, as the territory announced a second delay to Legislative Council elections that were supposed to have taken place last September. “Today China enacted changes to Hong Kong’s electoral system which are a clear breach of the Joint …

US reaffirms Trump-era ruling that Hong Kong lacks autonomy
3 years, 8 months ago

US reaffirms Trump-era ruling that Hong Kong lacks autonomy

Al Jazeera  

The United States has reaffirmed that Hong Kong is no longer autonomous and remains undeserving of preferential trade treatment, as a court in the Chinese-controlled city prepared to hand down verdicts in the case of several prominent democrats charged with taking part in an unauthorised assembly. US Secretary of State Antony Blinken, in a notice sent to legislators on Wednesday, …

US sanctions 24 Hong Kong and Chinese officials ahead of Blinken meeting with Beijing
3 years, 9 months ago

US sanctions 24 Hong Kong and Chinese officials ahead of Blinken meeting with Beijing

CNN  

Hong Kong CNN — Washington has sanctioned 24 Chinese and Hong Kong officials over Beijing’s ongoing crackdown on the city, ahead of US Secretary of State Antony Blinken’s meeting with top Chinese diplomats in Alaska later this week. Blinken said the new sanctions underscore “our deep concern with the National People’s Congress March 11 decision to unilaterally undermine Hong Kong’s …

U.S. sanctions 24 Chinese, Hong Kong officials ahead of first face-to-face talks
3 years, 9 months ago

U.S. sanctions 24 Chinese, Hong Kong officials ahead of first face-to-face talks

LA Times  

The U.S. sanctioned an additional 24 Chinese and Hong Kong officials over Beijing’s ongoing crackdown on political freedoms in the semi-autonomous city, just ahead of the Biden administration’s first face-to-face talks with China. The step reflects Washington’s “deep concern” about the erosion of Hong Kong’s autonomy following changes to its election system endorsed by China’s ceremonial legislature last week, Secretary …

Hong Kong move a ‘combination of punches’ to end chaos: China
3 years, 9 months ago

Hong Kong move a ‘combination of punches’ to end chaos: China

The Hindu  

China’s plans for electoral reform in Hong Kong, coupled with the imposition of a security law, amount to a “combination of punches” to quell unrest in the southern city, a top Beijing official said on Friday. On Thursday, it moved to ensure only “patriots” run the city, when an annual rubber-stamp Parliament voted for sweeping changes to Hong Kong’s electoral …

China condems US 'sanctions' against officials over HK
4 years, 1 month ago

China condems US 'sanctions' against officials over HK

China Daily  

BEIJING - China on Tuesday strongly condemned the so-called sanctions imposed by the United States on officials of Chinese central government agencies responsible for Hong Kong affairs and of the Hong Kong Special Administrative Region government. The bullying and interventionism by the US side on Hong Kong-related issues cannot in any way shake China's resolve to safeguard its national security, …

US sanctions more officials over China’s crackdown in Hong Kong
4 years, 1 month ago

US sanctions more officials over China’s crackdown in Hong Kong

Al Jazeera  

The United States has slapped sanctions on four more officials in the mainland and Hong Kong, accusing them of threatening the peace and security of the semi-autonomous city over their role in enacting the national security law imposed by Beijing at the end of June. “These actions underscore US resolve to hold accountable key figures that are actively eviscerating the …

Hong Kong protests: US warns banks they could face sanctions
4 years, 2 months ago

Hong Kong protests: US warns banks they could face sanctions

Al Jazeera  

The US Department of State told international financial institutions they could face sanctions for doing business with individuals involved in China’s crackdown on Hong Kong protesters. The United States Department of State on Wednesday formally warned international financial institutions doing business with individuals deemed responsible for China’s crackdown in Hong Kong that they could soon face sanctions. In a report …

China imposes sanctions on U.S. lawmakers over Hong Kong
4 years, 4 months ago

China imposes sanctions on U.S. lawmakers over Hong Kong

Live Mint  

China imposed sanctions on 11 U.S. citizens including legislators on Monday in response to the U.S. imposition of sanctions on 11 Hong Kong and Chinese officials accused of curtailing political freedoms in the former British colony. "In response to that wrong U.S. behaviour, China has decided to impose sanctions on individuals who have behaved egregiously on Hong Kong-related issues," Chinese …

US Sanctions on Carrie Lam May Affect Financial Firms in Hong Kong, Here's How
4 years, 4 months ago

US Sanctions on Carrie Lam May Affect Financial Firms in Hong Kong, Here's How

News 18  

The United States has imposed sanctions on Hong Kong Chief Executive Carrie Lam and 10 other top Hong Kong and Chinese officials over what Washington says is their role in curtailing political freedoms in the territory. Under the law, it is a crime to receive “instructions, control or funding from a foreign country … to impose sanctions or blockade” against …

Shocked Hong Kong in a New Era under 'White Knuckle' China Grip
4 years, 4 months ago

Shocked Hong Kong in a New Era under 'White Knuckle' China Grip

News 18  

For 23 years Hong Kong was an anomaly. China's Hong Kong and Macau Affairs Office said the law would be a "sharp sword" hanging over the heads of a "tiny number of people" endangering national security. At the same time, the law would be a "guardian" of the rights, freedoms and peaceful lives of the rest of Hong Kong's people, …

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