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U.S. warns corporations on threat of doing enterprise with Hong Kong as China clamps down on freedoms

The nationwide flags of the U.S. and China waving exterior a constructing.

Teh Eng Koon | AFP by way of Getty Photos

WASHINGTON – The Biden administration on Friday warned companies with operations in Hong Kong of sweeping monetary and regulatory dangers as China continues to limit political and financial freedoms within the territory.

The nine-page Hong Kong Enterprise Advisory – printed collectively by the departments of State, Treasury, Commerce and Homeland Safety – warns that U.S. corporations are encountering various dangers posed by China’s nationwide safety regulation in Hong Kong.

The advisory states that “companies face dangers related to digital surveillance with out warrants and the give up of knowledge to authorities” in addition to “restricted entry to info.”

“Beijing has chipped away at Hong Kong’s repute of accountable, clear governance and respect for particular person freedoms, and has damaged its promise to go away Hong Kong’s excessive diploma of autonomy unchanged for 50 years,” Secretary of State Antony Blinken wrote in a press release.

“Within the face of Beijing’s choices over the previous yr that have stifled the democratic aspirations of individuals in Hong Kong, we’re taking motion. In the present day we ship a transparent message that america resolutely stands with Hong Kongers,” the nation’s prime diplomat added.

The Biden administration additionally imposed U.S. sanctions on seven Chinese language officers for violating Hong Kong’s autonomy.

The Chinese language Embassy in Washington did not instantly reply to a request for remark.

Earlier within the week, the Biden administration issued a warning to companies with funding ties to China’s Xinjiang province, citing rising proof of genocide and different human rights abuses within the nation’s northwest area.

Washington has brazenly criticized Beijing’s sweeping nationwide safety regulation handed in June 2020 geared toward limiting Hong Kong’s autonomy and banning literature vital of the Chinese language Communist Social gathering.

Then-Secretary of State Mike Pompeo described the measure as an “Orwellian transfer” and an assault “on the rights and freedoms of the folks of Hong Kong.”

Former President Donald Trump signed laws shortly thereafter to impose sanctions on China in response to its interference with Hong Kong’s autonomy. He additionally signed an government order ending the preferential therapy that Hong Kong has lengthy loved.

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“Hong Kong will now be handled the identical as mainland China,” Trump mentioned throughout a speech in July 2020 from the White Home Rose Backyard.

“No particular privileges, no particular financial therapy and no export of delicate applied sciences,” Trump mentioned. “Along with that, as , we’re inserting huge tariffs and have positioned very massive tariffs on China.”

China’s International Ministry fired again saying Beijing will impose retaliatory sanctions in opposition to U.S. people and entities.

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