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A strict new national security law has arrived in Hong Kong, marking the most significant shakeup to the city’s relationship with the mainland since the handover more than two decades ago. In this episode, three lawyers dissect the implications for businesses of the new law as well as the Trump administration’s response in the form of sanctions and greater export control restrictions.
For the full episode, click here to listen on Apple Podcasts and here for Spotify.
Thomas So is a Hong Kong-based partner of Mayer Brown and a member of the National Committee of the Chinese People’s Political Consultative Conference.
Wendy Wysong is Hong Kong managing partner at global law firm Steptoe & Johnson. She is a former Deputy Assistant Secretary for Export Enforcement in the Department of Commerce.
Nick Turner is Hong Kong-based of counsel at Steptoe & Johnson. He was previously regional sanctions officer, senior vice president at Citibank in Hong Kong.
The China Law Podcast is a weekly podcast exploring China’s business and financial sectors from a legal perspective. Get in touch at [email protected] with any feedback and ideas for future episodes.
01:31 How companies are expected to comply with the new law
04:12 Companies’ internal policies for staff behavior
06:09 Concerns about extraterritorial nature of the law and potential impact on business
11:08 What the Hong Kong Autonomy Act threatens to do
14:32 Scope of the sanctions bill and which financial institutions could be targeted
18:16 Why a new sanctions law is necessary for the U.S. response
20:17 New U.S. export control restrictions on Hong Kong
24:38 Revoking of Hong Kong’s special export control privileges