Past Events

William Brown, Senior Consultant of the Chamber, discussed the potential impact of Hong Kong Human Rights and Democracy Act of 2019 (HRDA) at the Americas Committee meeting on 8 January. He explained that the HRDA would significantly change the legal relationship between the U.S. and Hong Kong, contrary to some comments reported in the press. This is primarily because of a new obligation on the U.S. Secretary of State to certify to the U.S. Congress, on an annual basis, whether Hong Kong is “sufficiently autonomous” from Mainland China to justify its separate trade treatment from the latter. Wilson Chong, Senior Economist of the Chamber said that the act could hit Hong Kong’s attractiveness as a place to do business, given that it adds uncertainty to the business environment, which has been ranked as the world’s freest for the past 25 consecutive years in the World Economic Forum’s Annual Economic Freedom Index. He said that the immediate impact of HRDA on Hong Kong’s economy has so far been limited, but that the indirect impact on Hong Kong’s competitiveness in the long term is a concern.