HONG KONG – Hong Kong’s Secretary for Commerce and Economic Development Edward Yau Tang-wah said Wednesday that the anti-sanctions law would safeguard the rights of businesses in Hong Kong.
Yau made the remarks at a press briefing in response to a question on whether the national law would curtail foreign investors and hurt Hong Kong’s international financial status.
Hong Kong has not seen any “major” decline in the number of foreign investment or foreign firms, Secretary for Commerce and Economic Development Edward Yau Tang-wah said, attributing that to Hong Kong's unchanged level of openness and competitiveness
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“I think the anti-sanction legislation introduced by our country is a reaction to the blatant interference of the US imposing sanctions on our country and Hong Kong,” said Yau.
“It is also a matter of upholding the rights of people doing business in Hong Kong to act against any kind of such unnecessary interference.”
“But of course, the first thing is that we will need to wait and see what the legislative arrangement proposed by the National People's Congress would be, and find a way to have it introduced in Hong Kong,” he added.
Yau said he was glad to see that the international business communities in Hong Kong have been taking a “very pragmatic approach” after the US imposed so-called sanctions.
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Despite the social unrest and current COVID-19 pandemic, the city has not seen any “major” decline in the number of foreign investment or foreign firms, Yau said, attributing that to Hong Kong's unchanged level of openness and competitiveness.