Hong Kong held a summit to signal that it's open for business again after a pandemic that left it isolated from the world and the imposition of a strict national security law.
Hong Kong media tycoon and democracy activist Jimmy Lai, 75, was convicted last month on fraud charges that the United States called “spurious.”More than 200 people, including Lai, have also been arrested under the national security law thatin response to the protests. The U.S. has spoken out repeatedly against the law, which criminalized subversion, secession, terrorism and collusion with foreign forces. Hong Kong and Chinese officials say it was necessary to restore stability.
Businesses “need to develop policies and guidelines and due diligence processes so as to guard against perhaps inadvertently doing things that are against the U.N. principles on business and human rights,” Kern said. Hong Kong is “not going anywhere” as an international financial center, said Allan Zeman, chairman of the Lan Kwai Fong Group, a Hong Kong-based real estate developer.Zeman is among the business leaders who welcomed the national security law after the protests of 2019, which disrupted transportation and sometimes turned violent.The finance summit drew about 200 participants from more than 100 companies around the world.
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