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17:35                                      Feel good about yourself? Pro-Beijing people in Hong Kong recognize that “Hong Kong version of the National Security Law” can boost the economy



Hong Kong Chief Executive Lin Zheng Yuee supports the

Hong Kong Chief Executive Lin Zheng Yuee supports the “Hong Kong version of the National Security Law”. (European News Agency)

2020-05-23 17:35:22

[Instant news / comprehensive report]China announced on the 21st that it will promote the formulation of the “Hong Kong version of the National Security Law”, which will cause controversy and is expected to vote next week. This move has caused strong condemnation from all walks of life. The financial position is precarious. However, pro-Beijing people in Hong Kong are full of self-confidence, believing that the “Hong Kong version of the National Security Law” can resolve terrorism and interference from external forces, and boost investors’ investment willingness.

Hong Kong ’s Ming Pao reported that the Chinese Manufacturers ’Association of Hong Kong issued a statement in support of the consideration of the“ Hong Kong version of the National Security Law ”by the National People ’s Congress. The Association of Manufacturers stated that only on the basis of “one country” can Hong Kong enjoy the “two systems” right, and maintaining national security is a constitutional responsibility that Hong Kong must fulfill.

“Reuters” reported that Tang Yingnian, the former Chief Secretary for Administration and Member of the CPPCC Standing Committee, said that the “Hong Kong version of the National Security Law” is beneficial to Hong Kong’s business environment because it can bring Hong Kong a stable legal environment.

The Chief Executive of Hong Kong, Lin Zhengyue, also said that Hong Kong ’s stock market was mixed, because last year ’s large-scale democratic protests destroyed the business environment; she pointed out that anything that would help stabilize the environment of Hong Kong, especially national security issues, Both are very beneficial to the local investment climate.

After the National People’s Congress announced that it would formulate the “Hong Kong version of the National Security Law”, not only did Hong Kong stocks and the Hang Seng Index plunge, the US also expressed a strong response, and US Secretary of State Mike Pompeo issued a formal statement warning that once the vote was passed, the US The special status of Hong Kong under US law will be reassessed. The market is worried that the tension between the US, China and Hong Kong will worsen, and international gold prices will also rise.


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