US to warn companies of Hong Kong risks: report

The US government is about to issue an unprecedented official warning toward American businesses operating in Hong Kong, according to a report in the Financial Times, quoting sources in the Biden administration. The warning is understood to be related to risks of data access under recently passed national security legislation as well as new anti-sanctions legislation, recently passed by the National People’s Congress, targeting companies that comply with US sanctions against Chinese companies and individuals.

The warning will, like a travel advisory, not require actual compliance, but it is understood to be the first of its kind issued by the US government against American companies operating in Hong Kong.  It is also likely to be accompanied by a new list of sanctions against officials in Hong Kong.

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