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The Biden administration on Friday warned U.S. businesses about the risks of operating in Hong Kong, as China tightens its grip on the city.
In an advisory, the administration said a new legal landscape in Hong Kong “could adversely affect businesses and individuals” operating there, and that as a result, “they should be aware of potential reputational, regulatory, financial, and, in certain instances, legal risks associated with their Hong Kong operations.”
Speaking Thursday, President Joe Biden said “the situation in Hong Kong is deteriorating,” and faulted Beijing for “not keeping its commitment that it made — how it would deal with Hong Kong.” That was a reference to China’s pledge to keep Hong Kong’s semiautonomous status for 50 years after British rule ended in 1997.
As the Wall Street Journal reports, Beijing a year ago deployed a national security law to stamp out antigovernment protests in Hong Kong. The law gives broad authority to the security apparatus, and authorities have arrested democracy activists, journalists and government critics.
A Chinese foreign ministry spokesman reiterated Beijing’s opposition to “U.S. interference in China’s internal affairs under the pretext of the Hong Kong issue,” when asked about the advisory, the Journal said.
