Though Hong Kong remains a vital entryway for businesses to China and the Asia-Pacific, the new National Security Law, coupled with ongoing China-US tensions, increases uncertainty and risks for businesses. In a new comprehensive overview, RANE’s analysts have developed a roadmap to help clients navigate the changing environment in Hong Kong and China.
“As long as businesses take careful steps to mitigate the new risks,” says Senior RANE analyst Zachary Torrey, who wrote the report, “Hong Kong remains and will remain a key entryway to China and the APAC region.”
In addition to the National Security Law, Hong Kong is also caught in the increasingly contentious trade relationship between the US and China. Recent US sanctions against Chinese and Hong Kong officials involved in the island’s political turmoil conflict with new regulations from the Chinese and city governments that punish businesses for complying with those sanctions, setting up a conflicting regulatory environment in Hong Kong.
According to Torrey, “Perhaps most concerning for clients we have spoken with is the potential imposition of data control laws. While, as our experts say, ‘it is only a matter of time’ until this happens, businesses can manage the risk through strict data security measures, which we detail in the report.”
RANE’s report on business risks in Hong Kong provides in-depth analysis and practical guidance and is available for clients. Join the RANE network to see the entire report and let RANE help you put your business risks in perspective. firstname.lastname@example.org
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