As foreign businesses weigh the impact of Hong Kong’s new security law, Article 23, on their operations in the region, concerns over the vague language used in the law persist. Specifically, the definition of “state secrets” raises potential charges of espionage for executives and finance professionals simply performing their duties.
Despite reassurances from city officials that the law aligns with international standards and should not be a cause for worry for media outlets, financial institutions or non-governmental organizations engaging in regular activities, uncertainty remains among foreign businesses about how Article 23 will be implemented and what implications it may have on their operations in Hong Kong.
The broad scope of the law has raised concerns about potential restrictions on freedom of speech and other civil liberties, which could impact the business environment in the region. The United States has expressed its concern over these issues as well.
Overall, there is a high level of anticipation and apprehension among foreign businesses regarding Article 23 and its potential impact on their operations in Hong Kong. While city officials are confident in the law’s alignment with international norms, the vague language and broad definitions have left many questioning how it will be enforced and what consequences it may have for their businesses.
