The new security law in Hong Kong, known as Article 23, is causing uncertainty among many foreign businesses about how it will affect their operations in the region. The United States has expressed concern about the vague language used in the law, particularly the definition of “state secret” that could potentially expose executives and financial professionals to espionage charges for simply carrying out their duties.
While city officials believe that the law is in line with international standards and should not be a cause for concern for the media, financial sector or non-governmental organizations if they are engaged in regular activities, there is still uncertainty among foreign businesses about how Article 23 will be applied and what implications it may have for their operations.
The broad scope of the law has raised concerns about potential restrictions on free speech and other civil liberties, which could affect the business environment in the region. Despite assurances from city officials that the law will not disrupt normal business, many foreign businesses are still apprehensive about its potential impact on their operations in Hong Kong.
Overall, there is a high level of expectation and apprehension among foreign businesses regarding Article 23 and its potential impact on their operations in Hong Kong. While city officials are confident that the law is in line with international norms, concerns about its enforcement and consequences have led to uncertainty and unease among many businesses operating in Hong Kong.