According to the US Consul General Gregory May, American companies are choosing to remain in Hong Kong despite concerns about the national security law and online censorship. May emphasized Hong Kong’s role in fostering mutual understanding between the US and China, pointing out its “relative freedom” and the presence of insightful analysts in the region. Speaking at a non-profit organization’s conference, May addressed concerns about the national security law’s impact on business, including internet censorship and data regulations. He assured that overall, US companies intend to stay engaged in Hong Kong’s highly competitive business environment, and there hasn’t been a significant exodus of US companies.
Approximately 1,300 American companies are currently operating in Hong Kong and continue to recognize the city’s strengths. May highlighted that despite recent changes, Hong Kong retains more freedom compared to mainland China, enabling it to engage globally. He acknowledged concerns about the diminishing space for free expression but underlined Hong Kong’s value as a platform for Sino-American understanding. He stressed the need for academic and cultural exchanges to stabilize the US-China relationship during complex times.
May also mentioned the decline in American students studying on the mainland in recent years and highlighted the importance of such exchanges. He shared his observations about Americans returning to Hong Kong post-pandemic. Despite the “three red lines” set by Chinese officials, May stated that these had no significant impact on his work and reiterated US concerns about Hong Kong’s diminishing autonomy.
The consul general noted that he recently visited Macau and praised US casino operators for contributing to diversifying the city’s economy. May, an experienced diplomat with significant China-related assignments, discussed the increasing role of Hong Kong in the US-China geopolitical landscape.
Earlier this month, the US introduced proposed restrictions on investing in Chinese tech start-ups, which also covered Hong Kong firms. Despite this, the US remains one of Hong Kong’s major trading partners, with the city holding a notable trading relationship with the US.
(Source: Kahon Chan | South China Morning Post)
