FirstFT: Biden to warn US companies over risks of operating in Hong Kong

FirstFT: Biden to warn US companies over risks of operating in Hong Kong

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Joe Biden's administration is poised to warn US companies of the rising risks of operating in Hong Kong as China asserts more control over the financial hub.

According to three people familiar with the plan, the state department will this week flag concerns about a range of threats, including China's ability to obtain data that foreign companies store in Hong Kong.

It will also point to the risk of a new law allowing Beijing to impose sanctions against anyone enabling foreign penalties to be implemented against Chinese groups and officials.

The move, which the sources said would probably come on Friday, is the first time the US has issued a business advisory in relation to Hong Kong.

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