Are Hong Kong's days as a global business hub over? - BBC News

A tough new security law comes at a time when businesses were already wary of the city.

14 hours agoShareclose panelShare pageCopy linkAbout sharingImage source, Getty ImagesImage caption, Hong Kong's future as a global finance hub is in doubt following a tough new security lawBy Joyce LeeBBC Chinese, Hong KongThere is a new running joke in Hong Kong: locals mock their city for losing its status as the darling of global capital. As one joked, it is the newest Unesco world heritage site.

A tough security law - Article 23 - that came into effect over the weekend has only renewed the underlying concerns.

Authorities say it will protect the city and ensure stability, while critics are alarmed it will silence all dissent with its closed-door trials and life sentences for broadly-defined offences - from insurrection to treason.

It comes at a time when Beijing's iron grip and US-China tensions were already driving away foreign investors who now have an "anywhere but China" policy, says Mr Chan, a real estate surveyor, who did not wish to disclose his full name.

"Hong Kong was seen as distinct from China so investors could still invest here - not anymore now," he says.

https://www.bbc.co.uk/news/world-asia-china-68636561

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