There is also a view that the status as a Hong Kong financial center may be uncertain

The view that the position as a financial center of Hong Kong may be uncertain is 5:50 on July 3

In response to the enforcement of the “Hong Kong National Security Maintenance Law” to control anti-governmental movements in Hong Kong, the movement toward the operation of related organizations is in full swing. Some people say that there is widespread concern in the international community, and its status as an international financial center could be shaken.

In Hong Kong, the Chinese government appoints the secretary-general of the newly established “National Security Maintenance Commission” in response to the enforcement of laws, and the movement toward the operation of related organizations is in full swing.

Concerns over the enforcement of the law have spread to the international community, and the US government has indicated that with the exception of some exceptions, preferential treatment such as trade and financial transactions recognized by Hong Kong will be abolished.

In addition, the British government announced that it will open a way to acquire citizenship in the future by allowing people with passports issued locally until they returned to Hong Kong in 1997 to stay in the UK for 5 years In addition, Australia announced on the 2nd that Prime Minister Morrison is considering accepting residents of Hong Kong who wish to move.

In addition to these movements, it is feared that the enforcement of the law will increase political involvement in China and affect the free business environment. There is also a view that the position may fluctuate.

Yuichiro Harada, director of the East Asian Finance Department at Mizuho Bank, who is familiar with the Hong Kong financial market, said, ``We have not expected short-term effects so far, but there is a possibility that Hong Kong's economy will shrink in the future and major impacts will occur in the long run. I can't deny it."

Australian Prime Minister Morrison "I'm very concerned"

Australia's Prime Minister Morrison told reporters yesterday that he is considering accepting Hong Kong residents wishing to emigrate to Australia.

Prime Minister Morrison said he was "very concerned" about the situation in Hong Kong, and said, "If we are prepared to stand up and provide assistance, the answer is yes." He said he would discuss the measures in the Cabinet soon.