(4 years, 1 month ago)
Commons ChamberToday China has enacted national security legislation. We are waiting for it to be published so that we can see the details and assess it against what we have said before. When that is the case, I will make an oral statement to update hon. Members. None the less, at this stage what I can say is that the imposition of national security legislation on Hong Kong, rather than through Hong Kong’s own institutions, lies in direct conflict with China’s international obligations under the Sino-British joint declaration.
My hon. Friend is absolutely right, and of course it is contrary to, we believe, China’s own interests and also China’s articulation of the relationship with Hong Kong through the one country, two systems policy. As she rightly says, we have been working very closely with our international partners, the EU and the G7, and, indeed, we are raising the issue with like-minded partners in the United Nations Human Rights Council shortly.
A number of commentators have been conversely saying that Hong Kong’s role as a financial centre may be buttressed by the national security law as Chinese companies look to list in Hong Kong, now that they are less welcome in the United States. What does my right hon. Friend make of this controversial assessment, and what are his predictions for the future of Hong Kong as an international financial centre and the implications for both London and British interests?
I thank my hon. Friend, who makes a very important point. Of course, the success of Hong Kong—the entrepreneurial spirit, the vibrancy, the economic success—has been built on its autonomy in the one country, two systems paradigm. That clearly is under threat if China, as we now fear, has enacted the legislation and our worst fears in terms of the substantive detail are borne out; and of course it would be bad news for all international businesses, but, fundamentally, not just for the people of Hong Kong but for China. That is why, even at this stage, we would urge China to step back from the brink, respect the rights of the people of Hong Kong and live up to its international obligations through the joint declaration and to the international community.