TAIWAN TO DUMP HK SPECIAL INVEST STATUS DUE TO BEIJING SECURITY LAW
China’s planned national security law may prompt Taiwan to revoke the special status it extends to Hong Kong, President Tsai Ing-wen warned on Monday, May 25, 2020, a move that would most likely rile Beijing, which is already getting a beating as tens of thousands of protesters took to the streets on Sunday.
Once revoked, Hong Kong residents will find it hard to visit or invest in Taiwan, which has more generous terms for investments and less restrictions than China’s, according to a Reuters story written by Yimpu Lee and Ben Blanchard.
China is proposing the new security legislation for the Chinese-ruled city after months of anti-government protests, and the decision has already ignited renewed unrest in Hong Kong and prompted condemnation from Western capitals. Tsai said the proposed legislation was a serious threat to Hong Kong’s freedoms and judicial independence and that Taiwan would provide the people of Hong Kong with “necessary assistance.”
Taiwan deals with Hong Kong and neighboring Macau under rules that, for example, allow residents of the two Chinese cities to visit and invest in Taiwan much more easily than mainland Chinese, who are subjected to investment measures a tad stricter and are monitored by the government.