Hong Kong’s recent passage of a new national security law has prompted business groups to call for a focus on economic recovery, urging authorities to provide clarity and engage with the business community regarding the implications of the legislation.
The Safeguarding National Security Ordinance, passed by the Legislative Council, expands the government’s power to prosecute citizens for offenses related to national security. This includes actions such as colluding with external forces, treason, and disclosing state secrets.
Following the bill’s swift approval, business leaders emphasized the need to move past political tensions and concentrate on Hong Kong’s economic strengths. Johannes Hack, president of the German Chamber of Commerce, emphasized the importance of Hong Kong’s openness and ease of doing business for its success.
While some chambers of commerce had concerns about the broad definitions within the legislation, many local business groups expressed support for the law, believing it would enable a focus on economic development.
The Hong Kong General Chamber of Commerce (HKGCC) and the Chinese General Chamber of Commerce called for continued engagement from authorities to clarify misconceptions surrounding the law. They appreciated the government’s efforts to address stakeholder concerns and hoped for ongoing clarification.
Tony Ho, director of the Indonesian Chamber of Commerce, suggested the establishment of a consultation center to address inquiries from the business community regarding legal risks associated with the new laws.
Despite concerns raised by some lawmakers and legal experts, others expressed confidence in the legislation’s precision and its potential to enhance investor protection and bolster the economy.
However, the passage of the law prompted a “yellow” local enterprise, associated with the 2019 protest movement, to close its doors. Owner Cannis Chan Sheung-yan cited concerns over the stifling of opposition voices in the current environment.
International scrutiny has also followed the passage of the legislation, with foreign parliamentarians expressing concern over its impact on individual rights and freedoms. Nonetheless, Hong Kong and Beijing authorities maintain that the law aligns with international standards and will not affect law-abiding citizens.