Business Standard

US issues advisory against doing business in Hong Kong


The Joe Biden administra­tion issued a blanket warning on Friday to US firms about the risks of doing business in Hong Kong as China continues to clamp down on political and economic freedoms in the territory. Four Cabinet agencies — the department­s of State, Treasury, Commerce and Homeland Security — released the nine-page advisory that alerts companies about the shifting legal landscape in Hong Kong and the possibilit­y that engaging with Hong Kong business could incur reputation­al and legal damages. Also, Treasury announced sanctions against seven Chinese officials for violating the terms of the 2020 Hong Kong Autonomy Act.

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