HONG KONG(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 and I
assure them that I don’t think Article 23 is going to be that dramatic but
they want to know for certain. 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.
However, Hong Kong financial secretary Antony Leung said Monday there was no
cause for concern that the new laws could undermine the confidence of
foreign investors because economic information was not classified as
protected information.
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.
The Hong Kong government insists the proposed laws are consistent with
international human rights covenants that already apply to the former
British territory.
http://www.ptd.net/webnews/wed/bl/Qhongkong-subversion-bank.Rhik_CD4.html
Posting date: 8/Dec/2002
Original article date: 4/Dec/2002
Category: Media Report
