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China plans to shelve Hong Kong anti-sanctions law
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Posttime:2021-10-11
CHINA won't impose anti-sanction laws on Hong Kong, for now, a move that alarmed businesses in the Asian financial hub, reports Bloomberg.
The decision came after Hong Kong executives and mainland Chinese financial institutions raised their concerns with Vice Premier Liu He.
The National People's Congress Standing Committee is due to meet October 19 to 23 in Beijing.
The move eases concern for Hong Kong's financial markets, which have been disturbed by a recent wave of Chinese government crackdowns in sectors including technology and education.
Imposing the legislation on Hong Kong could destabilise the city's financial sector and cause foreign investment to flow toward rival Asian finance centre Singapore.
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