(Bloomberg) -- Hong Kong’s reputation in Washington is too poor to anticipate any easing of policy pressure, the American Chamber of Commerce in the financial hub said after a visit to the US capital.
“Given Hong Kong’s position between China and the US, the overall US sentiment towards Hong Kong is quite negative, and US-Hong Kong relations are unlikely to improve any time soon,” the organization said in a report released this week. AmCham said its Chairman Geoff Siebengartner led a 10-person delegation to meet with congressmen, senior government officials and policy experts, among others, earlier this month.
Hong Kong authorities’ sweeping crackdown on dissent following 2019 pro-democracy protests has prompted criticism from Western governments, with the US removing some preferential treatment previously afforded to the former British colony owing to its special status as a semi-autonomous part of China.
Washington has also sanctioned a number of officials it accused of undermining freedoms in the former British colony and updated its travel advisory to warn Americans of the risk of traveling to the city after Beijing imposed a national security law.
“Washington’s highest priority is to see a robust implementation of the ‘One Country, Two Systems’ principle,” according to the report, referring to the city’s governing framework after it returned to Chinese rule in 1997. A recently enacted national security law known as Article 23 was of particular concern, it added.
“It is doubtful that there will be tangible changes in US policy towards Hong Kong,” the business chamber wrote.
AmCham said the delegation reflected the views of its members during the meetings. It shared its latest survey of business sentiment showing that a large majority of US companies aren’t leaving Hong Kong, still have confidence in the rule of law and see it as “an excellent place to do business.” Still its members are not seeking to expand and don’t feel optimistic about the future, mainly due to the geopolitical situation, it noted.
©2024 Bloomberg L.P.
