Hong Kong National Security Legislation

Bob Stewart Excerpts

Wednesday 1st July 2020 Commons Chamber

[Dominic Raab]

We obviously have contacts with civil society on the ground not only through our missions and posts, but through direct contracts here in London. They are deeply concerned and they fear that they will be subject to this law and bear the brunt of this law in the harshest terms conceivable. We are deeply concerned for them, which is why we are taking the action that we are.

[Bob Stewart (Beckenham) (Con)]

I served in Hong Kong as an Army officer. The great thing about Hong Kong is that it has one foot in China and another in the west. When we look at financial services, we can see that that is a huge advantage to the people of Hong Kong. This law could now see many people considering withdrawing their money out of Hong Kong’s money markets and financial services, possibly moving it to Tokyo, Singapore, or perhaps Shanghai. I wonder whether this is a little gambit by the Chinese authorities to reduce the money-making influence of Hong Kong in the world.

[Dominic Raab]

The reality is that my hon. Friend is right: Hong Kong has long been regarded as the jewel in the financial crown. Of course, its relative economic importance has ebbed overtime as China has developed economically, but the reality is that the steps that have been taken are clearly counterproductive to China’s own self-interest in economic terms. What we are seeing clearly is China putting the political imperative to control Hong Kong and other so-called restive provinces of China over its economic interests. In any event, regardless of the financial circumstances, there is a point of principle at stake here based on their freedoms, their autonomy and the commitments under international law that China has signed up to. If it wants to be a leading member of the international community, it must live up to the international responsibilities and the international obligations that it undertakes.