A UK government report claims Hong Kong’s emphasis on national security undermines its global reputation, reports HKFP. Foreign Secretary David Lammy noted a “drift away” from the Sino–British Joint Declaration, which guaranteed Hong Kong a high degree of autonomy after its handover to Chinese rule in 1997. The Hong Kong government denounced the report, calling it hypocritical and defending its national security measures.
Hong Kong journalists face unprecedented harassment and cyber attacks
A wave of large-scale harassment and intimidation has targeted journalists in Hong Kong in the past three months, according to the Hong Kong Journalists Association, Reuters reports. HKJA chairperson Selina Cheng said she thought it was the largest scale harassment of reporters in Hong Kong thus far. “We are making a loud call today to say that we do not accept such behaviour,” she said.
Chief of major HK property developer faces challenges amid downturn
Major Hong Kong property developer New World Development is facing significant pressure as its market value has plummeted more than 80% in the last four years due to a prolonged real estate slump, the Financial Times reports. CEO Adrian Cheng must confront this downturn and family succession uncertainty, focusing on crisis management through refinancing, asset sales and strategic business adjustments.
Hong Kong government rejects UN claims of arbitrary detention of activist
Claims by the United Nations that activist Chow Hang-tung’s detention is arbitrary have been rejected by the Hong Kong authorities, who argue that commenting on ongoing legal proceedings is inappropriate, reports HKFP. The report also highlights concerns about Hong Kong’s new security law and threats faced by the international legal team of jailed Hong Kong pro-democracy campaigner and tycoon Jimmy Lai.
China detains investment bankers and restricts travel amid crackdown
The detention of at least three investment bankers since August and new travel restrictions on staff highlight China’s intensified scrutiny of the financial sector, Bloomberg reports. The crackdown, part of broader anti-corruption measures, has led state-backed brokerages to demand passports and pre-approval for travel from employees.
China imposes record fine and ban on PwC over Evergrande audit
Chinese regulators have suspended PwC Zhong Tian for six months and imposed a record fine of 441 million yuan ($62 million) for mishandling its audit of failed property developer China Evergrande Group, according to Reuters. The firm was found to have ignored and condoned financial fraud, significantly impacting its reputation and operations in China.
HK activist appeals conviction over prison complaint incident
Detained Hong Kong activist Owen Chow is appealing his conviction and sentence for breaking prison rules by attempting to remove a complaint form from the detention center, HKFP reports. He had intended to file a complaint to the government watchdog about corrections officers but had failed to follow the correct protocols, the magistrate said. Chow’s conviction resulted in an additional three-day prison term.
High-level US–China military talks as Harris calls for ‘de-risking’
The United States and China have initiated high-level military talks, marking a significant step in stabilizing their relationship and avoiding conflict in the South China Sea and Taiwan Strait. Meanwhile, US Vice President Kamala Harris and former President Donald Trump have critiqued each other’s China policies. Harris said the US–China economic relationship was “not about decoupling — it is about de-risking”, while Trump proposed tougher trade measures and espionage crackdowns. (The Guardian, CBS News)
