Even with the protest crisis that Hongkong is facing right now, American companies remain confident to invest in the country, commerce chief Edward Yau Tang-wah said.
Hong Kong Human Rights and Democracy Act
The U.S. companies won’t lose confidence even with a bill that could pave the way for economic sanctions and diplomatic actions against the city’s government. The passing of the bill – Hong Kong Human Rights and Democracy Act – will require the U.S. government to step in and assess the level of human rights and democracy in the city each year. It would determine if Washington should continue the grant trade privileges under the 1992 Hong Kong Policy Act.
But Yau highlighted that the views of U.S. politicians don’t reflect the public opinion in Hong Kong. He also added that American companies understand the city’s current situation. In fact, they are still keen on exploring opportunities amid the anti-government protests and the proposed bill.
Yau also emphasized that the views of Congress could possibly be different from the U.S. in many states. He admitted that it is only natural for the U.S. to be concerned about the issues related to human rights and freedom.
The impact of the bill would depend on whether Washington adopts a new measure, which is unlikely to happen, according to the commerce chief.
“The bill requires an annual report to be submitted [to Washington]. But this was being done already,” he said. “Politics and trade should be separate. We would not design our trade policy to serve a larger trading partner – that would go against Hong Kong’s [principles].”
The commerce chief spoke at the opening of a trade meeting. This aims to promote Hong Kong as the gateway for American investors to reach China and Asia as a whole.
Yao denied that investors’ confidence is weakening with the current protest crisis in the city.
Hong Kong reporters asked Yao if now is the right time to promote the city amid protest crisis. The commerce chief responded by saying that the government must multitask even in the middle of a turmoil. Economic, social, and political issues must be efficiently juggled at the same time.
