HK slams ‘misleading’ Forbes commentary claiming HK's economy risky

The Hong Kong government has slammed the American business magazine Forbes’ commentary for fabricating false narratives against the city’s implementation of global sanctions and national security laws.

On 30 July, the magazine published a commentary titled “Hong Kong’s economy is now risky business”, citing a report by the US Committee for Freedom in Hong Kong Foundation (CFHK) that Hong Kong used to be a place where one could count on an open business environment with strong rule of law protections.

The commentary further claimed that since the implementation of the National Security Law and Article 23 legislation, Hong Kong is increasingly becoming a hub for rogue regimes to conduct illicit financial transactions and evade international sanctions. 

“It’s time for the business community and governments around the globe to wake up to the reality that Hong Kong is not the same – in fact, it’s a far riskier place to do business today than ever before,” the commentary reads.

According to an official statement, the government spokesperson has expressed strong disapproval and rejection of the commentary. “It cited a so-called report by an anti-China organisation, fabricating false and unfounded narratives against the implementation of sanctions imposed by the United Nations Security Council (UNSC) and safeguarding of national security, in the HKSAR.”

"It is the constitutional duty of the HKSAR to safeguard national security. In accordance with international law and international practice based on the Charter of the United Nations, safeguarding national security is an inherent right of all sovereign states. Many common law jurisdictions, including the US, the UK, and Canada, have enacted multiple pieces of legislation to safeguard national security,” the spokesperson said.

"Turning a blind eye to the fact and making blatant remarks, the anti-China organisation CFHK Foundation has demonstrated typical political hegemony and hypocrisy with double standards", the spokesman added.

MARKETING-INTERACTIVE has reached out to Forbes for a statement. 

Don’t miss: HK govt slams BBC over 'smearing' national security law

This is not the first time the Hong Kong government has criticised news reports involving the city. Back in March, the government slammed Britain’s public service broadcaster BBC over “smearing” the national security law in an article regarding the sentencing of 12 Hongkongers convicted of rioting.

Titled "Hong Kong: Actor Gregory Wong among 12 jailed over 2019 protest”, the news report mentioned that the 2019 protests resulted in the implementation of a stringent national security law, which expanded the scope of prohibited dissenting activities and diminished Hong Kong's autonomy. 

In the same month, the Hong Kong government said The Times’ news report regarding Article 23 legislation was “extremely misleading” after the news publication released an article titled “Hongkongers to be jailed for keeping old newspapers”. 

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