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Financial Secretary Paul Chan warns US bill – the Hong Kong Human Rights and Democracy Act – could damage city’s appeal to overseas investors
- The Hong Kong Human Rights and Democracy Act edged closer to becoming law this week after it passed committees in the House and Senate
- Chan also warned city could slip into a ‘technical recession’ in the this quarter of the year
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Hong Kong’s finance chief on Saturday warned that the passage of a US bill written to support democratic freedoms in Hong Kong by increasing pressure on Chinese authorities could damage the city’s appeal to overseas investors.
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The proposed Hong Kong Human Rights and Democracy Act edged closer to becoming a law this week after it passed committees in the House and Senate. Beijing, in turn, rebuked Washington for trying to interfere in its domestic affairs.
Financial Secretary Paul Chan Mo-po, speaking on a local radio programme on Saturday, said: “Because the bill has received support across parties, the chances of it being passed are very high.”
He said how President Donald Trump and the US government viewed the bill was still unknown.
“Passing the bill in itself will not have immediate effects,” Chan said.
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He said the impact would depend on how the US State Department evaluated Hong Kong’s situation under the “one country, two systems” principle.
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