54% of Hong Kong businesses see negative impact from Beijing’s national security law

03, Jun. 2020

Wan Chai, Hong Kong
Wan Chai, Hong Kong

HONG KONG, NNA – A majority of Hong Kong businesses are concerned about the negative impact of the national security law that China’s top legislative body is preparing for the city.

According to a May 26-29 survey by the Hong Kong General Chamber of Commerce, 54 percent of 418 respondents said it would inevitably have a negative impact on their business operations in the short term.

But for the long term, in turn, 61 percent believe that the law will either have a positive impact or no impact at all on their businesses, the poll found.

Among top concerns are short-term uncertainties caused by the controversial law and the possibility of foreign sanctions against the territory.

The local chamber is calling for early announcement of the law’s detailed provisions and specific implementation measures to stem the uncertainties, it said in a statement on Monday.

In terms of day-to-day operations, only 25 percent of respondents expect a negative impact, the survey showed.