The latest US warning on heightened risks for companies in Hong Kong is not expected to have a major impact, as businesspeople prioritize profits over politics, observers say. Foreign companies are unlikely to leave despite Washington’s accusations of Hong Kong serving as a transshipment point for dodging US sanctions against Russia.
US departments updated the Hong Kong Business Advisory, citing new risks under the Safeguarding National Security Ordinance. This legislation, mandated under Article 23 of the city’s Basic Law, mirrors Beijing’s national security law imposed in 2020.
Hong Kong is identified as a significant transshipment point for Russia to obtain dual-use goods for military purposes against Ukraine. Despite these warnings, experts believe that businesses will continue to operate in Hong Kong, focusing on economic opportunities rather than political concerns.
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