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Saturday, Sep 25, 2021

Biden to warn U.S. companies of risks of operating in Hong Kong

Biden to warn U.S. companies of risks of operating in Hong Kong

The U.S. government will this week warn companies of increasing risks of operating in Hong Kong and also update a previously issued warning on Xinjiang, the Financial Times reported on Tuesday.
The report said that U.S. companies face threats including the Chinese government’s ability to gain access to data that foreign companies store in Hong Kong.

The risks also included the new law that allows Beijing to impose sanctions against individuals or entities involved in making or implementing discriminatory measures against Chinese citizens or entities, the FT said, citing three people familiar with the matter.

On Tuesday, the United States will update a warning that former President Donald Trump’s administration issued on Xinjiang last year, FT said, adding that it will stress on the legal risks that companies face unless they ensure that their supply chains are not implicated in forced labour in Xinjiang.

This warning is “typical political manipulation and double standards” by Washington, Chinese foreign ministry spokesman Zhao Lijian told a press briefing in Beijing on Tuesday.
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