US Issues Risk Warning to Its Companies Operating in Hong Kong

Hong Kong and Macau Chief Executives Reflected on the Screen at the 100th Anniversary Event of the Chinese Communist Party
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[Asia Economy New York=Correspondent Baek Jong-min] The U.S. government has issued a business risk warning to American companies operating in Hong Kong. Seven Chinese officials involved in human rights abuses in Hong Kong have been placed on the sanctions list.

The U.S. strengthened its measures against China by issuing a warning to companies related to Hong Kong just days after issuing an alert advising American companies not to engage in transactions or investments related to China's Xinjiang region.

On the 16th (local time), the U.S. Departments of State, Treasury, Commerce, and Homeland Security warned American companies that they could face risks such as electronic surveillance without warrants in Hong Kong and being required to submit corporate and customer data to authorities.

They emphasized that companies or individuals in Hong Kong should be aware that they could face retaliation from China for complying with U.S. or other international sanctions.

Previously, the Trump administration stripped Hong Kong of special treatment regarding tariffs, investments, and visa issuance last year in response to China's enactment of the Hong Kong National Security Law.

U.S. President Joe Biden criticized the situation a day earlier, stating, "The situation in Hong Kong is deteriorating, and the Chinese government is not keeping its commitments in its response to Hong Kong."

The seven Chinese officials added to the sanctions list on this day are deputy director-level personnel from the Hong Kong Liaison Office. Those sanctioned will face disadvantages such as asset freezes in the U.S.

Major foreign media reported that the U.S. is also considering an executive order to promote immigration of Hong Kong residents, but it is unclear whether it will be implemented.

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