About 370 protesters were arrested in Hong Kong on Wednesday — 10 of them were apprehended for breaching the new security law just one day after it took effect.
Whether the new law affects Hong Kong's attractiveness as a leading financial center will depend on the implementation of the legislation, said Tim Summers, a senior fellow at think tank, Chatham House.
Opponents of the law say it undermines the city's autonomy that was promised when Hong Kong was handed over from the U.K. to China. Critics say the new law grants the central government in Beijing sweeping powers to clamp down on dissent in the Chinese territory, which saw more than a year of protests that sometimes turned violent.I don't see why Hong Kong as a financial center will be severely affected by this law.say it may be premature to draw conclusions about its impact on Hong Kong.center will depend on the implementation of the legislation, said Tim Summers, a senior fellow at think tank, Chatham House.
Lau Siu-kai, vice-president of Beijing-based think tank, China Association of Hong Kong and Macao Studies, agreed that the city could retain its standing as a financial hub."In fact I would say that, as a financial center, Hong Kong needs political stability, and needs law and order," Lau told CNBC's"I don't see why Hong Kong as a financial center will be severely affected by this law," he said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hong Kong arrests hundreds protesting China's national security lawPolice arrest more than 300 people as protesters hit streets in defiance of sweeping security law introduced by China in the semi-autonomous city.
Read more »
Hong Kong police make first arrest under new security lawHONG KONG (AP) — Hong Kong police have made their first arrest under a new national security law, arresting a protester for carrying a flag calling for Hong Kong independence at a protest...
Read more »
China tells foreign critics 'none of your business' on Hong Kong lawWestern governments and critics have warned the new law will curb the city's freedoms and undermine its 'One Country, Two Systems' governance scheme, which technically allows freedoms unseen on the mainland.
Read more »
After security law's passage, Hong Kong marks China ruleHONG KONG (AP) — Hong Kong’s leader strongly endorsed the new security law China's central government is imposing on the semi-autonomous territory in her speech marking Wednesday's anniversary of...
Read more »
China unveils details of the Hong Kong national security lawThe central Chinese government passed a sweeping new security law for Hong Kong that took effect late Tuesday.
Read more »
Hong Kong security law paves way for more authoritarian eraBeijing unveiled sweeping national security legislation for Hong Kong on Tuesday, symbolically asserting its authority over the city just an hour before the 23rd anniversary of its return to Chinese rule.
Read more »