As the new security law, Article 23, takes effect in Hong Kong, foreign businesses are keeping a close eye on its implications. The law’s vague wording has raised concerns for executives and finance professionals involved in everyday business activities, with the potential to lead to charges of espionage.
Despite the fears raised by the law’s broad definition of state secrets, city officials maintain that it aligns with international norms and should not impact media outlets, the financial sector, or non-government organizations as long as they are carrying out normal activities. Chief Executive John Lee has praised the law as a demonstration of patriotism.
However, the overall implications of Article 23 on foreign businesses in Hong Kong remain uncertain. It is essential for companies operating in the region to closely monitor developments related to the law and ensure compliance with any new regulations that may arise. The importance of staying informed and taking necessary precautions cannot be overstated in these uncertain times.
