Lam did not specify what additional measures would be taken to boost economic activity.
The act requires the US State Department to certify at least annually that Hong Kong retains enough autonomy to justify favourable US trading terms, and threatens sanctions for human rights violations. The unrest has hammered retail sales which fell by their steepest on record in October as protests scared off tourists and hit spending.
China denies interfering in Hong Kong’s affairs and says it is committed to the “one country, two systems” formula enshrined at the handover and guaranteeing the territory a high degree of autonomy. Beijing blames foreign countries including the United States for inciting unrest.
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New US act to 'have little impact' on HK, says businessmanHONG KONG (ANN): The United States is interfering with China&39;s internal affairs by passing the so-called Hong Kong Human Rights and Democracy Act, said Allan Zeman, local businessman and the father of Lan Kwai Fong － the world-famous entertainment district. 'the law is misnamed because it basically deals with trade issues but not the 'human rights' and 'democracy' issues that its title suggests.' the act 'was pushed forward by some very anti-China US senators, including Ted Cruz, Marco Rubio and Josh Hawley, who seized the opportunity to attack China...' 'The US will be unlikely to revoke Hong Kong's independent tariffs territory status, given that the US reaps a favourable trade balance of about US$33bil every year.'
Source: staronline - 🏆 4. / 75 Read more »