Hong Kong National Security Law Strengthens Status as an International Finance, Trade, and Shipping Hub

Pro-China Hong Kong Officials Help Create Predictable Business Environment
Hong Kong Bar Association States NPC Standing Committee Has No Legal Authority to Enact Security Law

[Asia Economy Reporter Cho Young-shin] Opinions are divided within Hong Kong over the Chinese government's plan to directly enact the Hong Kong National Security Law (Security Law).

Pro-China Hong Kong officials support the Security Law, saying it will create a stable and predictable business environment, while the Hong Kong Bar Association argues that there are legal issues such as violations of the Hong Kong Basic Law.

According to the South China Morning Post (SCMP) on the 26th, Xie Feng, the Chinese Foreign Ministry Chief in Hong Kong, held a press conference with 60 major businesspeople and journalists to explain the necessity of enacting the Security Law.

At the event, Chief Xie emphasized, "Once the Security Law is implemented, Hong Kong will have a more stable and predictable business environment," and "Hong Kong's status as an international financial, trade, and shipping hub will be strengthened." He further stressed that the law only applies to a few who attempt to overthrow the central government or engage in terrorist activities, so the majority of Hong Kong citizens and foreigners need not be alarmed.

However, SCMP reported that many attendees still expressed concerns about the Security Law. Some participants raised worries about the exclusion of democratic processes and the potential undermining of the One Country, Two Systems principle.

The Hong Kong Bar Association pointed out legal issues and expressed opposition to the Chinese government's enactment of the Security Law. The association stated that Article 23 of the Hong Kong Basic Law stipulates that Hong Kong should enact laws on its own, and argued that the promulgation of the law by the Standing Committee of the National People's Congress (NPC) exceeds Hong Kong's autonomy. They also clearly opposed the Security Law, citing uncertainties about compliance with the Hong Kong Basic Law.

Meanwhile, Hong Kong media reported that a large-scale protest could take place in the city on the 27th in relation to the Security Law and the National Anthem Law. The National Anthem Law punishes acts of disrespect toward the Chinese national anthem, "March of the Volunteers." This law prohibits using the national anthem at funerals, as background music in public places, or in commercial advertisements. It also bans changing the lyrics for satire or mockery. Violations can result in up to three years imprisonment or a fine of 50,000 Hong Kong dollars (approximately 8 million Korean won). Considering that the second review of the National Anthem Law draft is scheduled for that day, Hong Kong media suggested that a large-scale protest is likely to occur.

This content was produced with the assistance of AI translation services.