Gregory May, the U.S. Consul General in Hong Kong and Macau, told an online seminar on Jan. 25 that more than 15,000 Americans have left Hong Kong in the past two years. He believes that Beijing’s actions in Hong Kong will force more elites to flee, damaging Hong Kong’s status as a business hub.
On Jan. 25, The American think tank Center for Strategic and International Studies (CSIS) held an online seminar titled “Assessing Hong Kong’s Future as a Global Business Hub” to explore the impact of Beijing’s implementation of the National Security Law and its tightening control over Hong Kong.
May, who took office in Sep. 2022, said about 15,000 Americans left Hong Kong for various reasons in the past two years, which is equivalent to 20 percent of the American community in Hong Kong in 2019. He said the government’s anti-pandemic measures have hit Hong Kong hard in the past few years. Although such measures have been relaxed recently, they may already have induced an irreversible impact.
May is also concerned about the impact of Hong Kong’s rule of law on its status as an international business hub. He said, “the re-interpretation of the National Security Law by the National People’s Congress Standing Committee last month could further undermine the Hong Kong independence of Judiciary System by expanding the Hong Kong executive branch authority to make decisions affecting cases without judicial oversight.
“(International) Companies should be aware that the risks faced in mainland China are now increasingly present here in Hong Kong. The Hong Kong National Security Law and the actions taken by Beijing and Hong Kong authorities may negatively impact company staff, finances, legal compliance reputation, and operations,” adding, “Some international companies have relocated, while others are shifting key staff and operations elsewhere (out of Hong Kong).”
“Our view continues to be that Beijing’s actions could further force many of the city’s best and brightest (people) to flee. We are continuing to see the exodus of people from Hong Kong. And Hong Kong’s position as a free global financial center will suffer as a result of this outflow.” Said May.
He said there are more than 1,300 American companies in Hong Kong, tens of billions of American investments, and about 70,000 Americans still live in Hong Kong. Therefore, the situation in Hong Kong is closely linked to the interests of the United States. Over the past few decades, the U.S. has always been playing an important role in Hong Kong. In this respect, it is obliged to speak out for Hong Kong issues whenever needed and is never an attempt to interfere.
May also mentioned they will launch more student exchange programs, allowing mutual studies and/or visits between Hong Kong and American students in each other’s place. But he expressed concerns about academic freedom in Hong Kong, such as the introduction of “education in patriotism” in schools by the authorities, the dismissal of scholars, and the suppression of student unions.
Hanscom Smith, The former U.S. Consul General in Hong Kong and Macau, also spoke at the seminar and said “the United States needs to continue to work very closely with allies and partners to highlight Hong Kong’s status. Hong Kong is not simply another Chinese city, it is part of China, but its status is different,” “the baseline for the policy (of the United States) has always been supporting Hong Kong’s autonomy and supporting Hong Kong’s special status and supporting Hong Kongers themselves.”
