«We reiterate that we respect and support laws and regulations that will enable Hong Kong to recover and rebuild the economy,» the bank on its official social media account.
«There will be some unhappy people for some time,» John L. Thornton, a former president of Goldman Sachs, reportedly said. «But the drum rolls, the dogs bark and the caravan moves on. That’s the political judgment. They have had a fair amount of empirical evidence that the concerns will disappear.»
Stay: Tycoons
Hong Kong’s nine richest billionaires with companies listed in the city have also come out to support security legislation. Endorsements for the bill have come through businesses, relatives and, in the case of Li Ka-shing and hotel tycoon Michael Kadoorie, personal delivery.
«We are confident that through the enactment of the appropriate legislation in Hong Kong and with the resilience of the Hong Kong people, the city will continue to grow and prosper for many more decades to come,» Kadoorie reportedly said in an emailed statement.
«During this period of uncertainty, it is crucial for the government to explain to the public the importance of safeguarding national security and gain support of the proposed legislation.»
Stay: Hong Kong Government
Hong Kong officials provided a series of reassurances that financial activities would continue to operate as usual this week.
Hong Kong’s financial secretary Paul Chan and the city’s de facto central bank both said that free capital flow would be maintained and no additional foreign exchange controls would be introduced. The city’s secretary for financial services and the treasury Christopher Hui Ching-yu also provided assurances about the free flow of information, saying that platforms like Facebook or WhatsApp would not be banned.
Even mainland authorities chimed in on the matter, with a spokesperson from the China Banking and Insurance Regulatory Commission saying that Hong Kong’s role as a global financial hub would be further consolidated.
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