Corporates in Hong Kong

CHINA ADVISORY - Report 19 Jun 2020 by Andrew Collier

China is proposing changes to the Basic Law that will fundamentally alter Hong Kong. Although the proposals for the new security law have not been outlined in detail, they are likely to include further close monitoring of behavior in general, increased intervention in the legal system by Beijing, and the installation of mainland security institutions in Hong Kong.

China has decided that Hong Kong’s status as a global financial center may be worth sacrificing. There will be blowback due to global opinion about Hong Kong’s special status, and the possibility of U.S. removal of Hong Kong’s exemption of trade limits with China under the Hong Kong Policy Act of 1992.

What we don’t know is a) How quickly will Beijing institute new institutions/policies and in what form? and b) What will be the reaction of Hong Kong elites and multinationals?

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