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US imposes sanctions on Carrie Lam & 10 others

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  1. #81

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    Quote Originally Posted by historian:
    But HK says sanctions don't apply to HK banks. Now HK banks have a choice of who to follow...US or HK. Whichever one they side with the other side will probably punish them.
    Between a rock and a hard place. If they are forced to choose between US or HK...they will likely comply with the US. They need access to US dollars.

  2. #82

    However China also needs US dollars and one of the ways they get it is through HK banks.


  3. #83

  4. #84

  5. #85

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    Quote Originally Posted by AsianXpat0:
    I'm not seeing the actual post. seems to he a recurring problem on geoexpat. What does it say?

  6. #86

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    This is a mainland reg & so will not automatically apply in HK, but still is an indication of how Beijing sees the world & will inevitably have implications for global financial institutions operating here. Summary below & link to full Eng version here: http://english.mofcom.gov.cn/article/policyrelease/announcement/202101/20210103029708.shtml…
    Quote Tweet







    Henry Gao

    @henrysgao






    · 5h

    MOFCOM just issued its first order for 2021: Rules on Counteracting Unjustified Extra-territorial Application of Foreign Legislation and Other Measures. Key message:We are going to prohibit firms from complying with foreign laws prohibiting transactions with Chinese firms.
    Last edited by AsianXpat0; 09-01-2021 at 04:46 PM.

  7. #87

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    Quote Originally Posted by AsianXpat0:
    Quote Tweet







    Henry Gao

    @henrysgao






    · 5h

    MOFCOM just issued its first order for 2021: Rules on Counteracting Unjustified Extra-territorial Application of Foreign Legislation and Other Measures. Key message:We are going to prohibit firms from complying with foreign laws prohibiting transactions with Chinese firms.
    The proverbial sh*t is about to hit the fan. I'd grab the popcorn if I wasn't running a business in the middle of the two countries duking it out. So this is mainland only for now? Doesn't affect my business but certainly affects all of us in a big way if it's used here

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