US warns investors over risks of doing business in Hong Kong

The administration of United States President Joe Biden published an advisory warning Friday that China’s push to exert more control over Hong Kong threatens the rule of law and endangers employee data.

The Biden administration warned investors about the risks of doing business in Hong Kong, issuing an advisory that said China’s push to exert more control over the financial hub threatens the rule of law and endangers employees and data. The advisory published Friday said Hong Kong’s “new legal landscape” posed particular risks for businesses, investors, individuals and academic institutions, among others, operating in the city. It said those threats fall into four areas: “risks for businesses following the imposition of the NSL; data privacy risks; risks regarding transparency and access to critical business information; and risks for businesses with exposure to sanctioned Hong Kong or PRC entities or individuals.”