In the Hong Kong General Chamber of Commerce’s survey on the impact of a National Security Law for Hong Kong, a majority of respondents (61%) believe that the law will either have a positive impact or no impact at all on their businesses over the long-term. Due to the controversy over the law, slightly over half of respondents (54%) said it would inevitably have a negative impact on their business operations in the short-term.
The Chamber concludes that the business community in general is positive about the law in the long run. Companies’ main concerns were business confidence relating to the short-term uncertainties that it might create.
According to the results from the 418 respondents to the survey conducted from 26-29 May, the top concerns for companies were business confidence relating to short-term uncertainties that the law might create, and the possibility of foreign sanctions against Hong Kong. Whether businesses or individuals might unwittingly violate the law was ranked as the least important concern.
In terms of day-to-day operations, only 25% of respondents expected the law to have a negative impact, while up to 75% felt it will either have a positive impact or no impact at all.
Therefore, the Chamber hopes that the detailed provisions of the law and specific implementation measures will be announced as soon as possible to address the concerns stemming from the uncertainties. Moreover, the business community opposes any sanctions imposed by foreign countries against Hong Kong, as such action would unnecessarily hurt local and foreign companies operating here.
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