(Bloomberg) -- Hong Kong announced details about the city's planned national security law for the first time as senior officials launched a public consultation on Tuesday.
Chief Executive John Lee said it was the city's constitutional duty to enact the legislation under Article 23. Flanked by the city's justice and security ministers, Lee said he will brief the legislature in the afternoon, while the consultation will last until the end of February.
An “intensifying geopolitical situation” means Hong Kong needs “to address this weakness as soon as possible,” Lee said, adding that the legislation draws on existing laws in countries including the US and the UK.
Under the city's mini constitution in place since 1997, the local government is required under Article 23 to enact its own national security legislation. Previous administrations failed to do so due to public opposition. Instead, Beijing imposed a national security law on the city in 2020 in the wake of widespread pro-democracy protests.
While the existing national security law and sweeping changes to the make up of the city's legislature mean the planned law is unlikely to meet opposition, the global community will be watching closely on what it means for the city's international status. China's tightening grip and strict pandemic curbs earlier triggered an exodus of expat and local workers.
The city's stock market slumped, with the Hang Seng Index tumbling 2.5%, the biggest decline in Asia.
Chris Tang, the security chief, said there are nine chapters to the proposed legislation, including penalizing acts of stealing national secrets and espionage.
Lee said the government will reach out to foreign consulates and business chambers on how the new legislation will promote stability and benefit the business environment. Last week Lee said the government would form a team to counter any criticism of the legislation.
More stories like this are available on bloomberg.com
©2024 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
