Yet another top figure in the financial services industry has come out to back the controversial national security law in Hong Kong.
Chairwoman of the Hong Kong Exchanges & Clearing Laura Cha reportedly said she was surprised by Beijing's decision but nonetheless backed the proposed security legislation.
«There was a lot of uncertainty about the law and order,» said Cha in a «Bloomberg» television interview, adding that the proposed legislation «certainly creates the clarity and stability for us to move forward».
Support Depends on the Company
Financial institutions have been drawn into the sensitive issue with banks like Standard Chartered and HSBC – where Cha is on its board of directors – having declared public support for the new and yet to be unveiled law.
«It will be up to the company to decide what would be best for them,» Cha said in response to questions about businesses choosing allegiances.
«One Country, Two Systems»
Despite ongoing worries, Cha provided reassurances that details about the laws would later be addressed while Hong Kong will remain a gateway between China and the west.
«[It has been» made clear by the central government as well» that the «One Country, Two Systems» regime known by foreign investors would also remain in place, said Cha who is a non-official member of the Hong Kong government’s Executive Council.
Cha is also currently leading the search «internally and externally» to find a successor to Charles Li, the bourse’s current chief executive who is due to step down in October 2021.
