AFP: Hong Kong anti-subversion laws spark concern among foreign banks

Wednesday, 04-Dec-2002

HONG KONG, Dec 4 (AFP) - Some foreign banks in Hong Kong are deliberating whether to relocate some operations out of the city if the government passes proposed anti-subversion laws, a lawmaker said Wednesday.

The banking representative in the Legislative Council, David Li, told local radio the banks were concerned after reading press reports about the law and wanted the government to publish a white bill detailing its contents to ease concerns.

"They're concerned about the freedom of information. They're concerned about the issue that there may be some censorship of the press," Li said.

"They're concerned that Hong Kong may not be what it has always been [...] Some of them are even considering increasing their presence elsewhere rather than Hong Kong."

Some 20 representatives from foreign and local banks held talks with Hong Kong security secretary Regina Ip on Monday over the proposed anti-subversion law as new concerns were expressed over the controversial legislation.

[...]

Under Article 23 of the Basic Law, the territory's mini-constitution, Hong Kong is obliged to pass laws banning treason, sedition, subversion and theft of state secrets.

The Hong Kong government has issued only a vague outline of the laws so far and many groups, as well as the United States, have urged the territory to release a white paper providing all the details.

[...]

http://www.ptd.net/webnews/wed/bl/Qhongkong-subversion-bank.Rhik_CD4.html