[Hong Kong News]The U.S.-China tussle continues and the USCC criticizes Beijing for destroying Hong Kong; the media pursues and attacks Li Jiachao; goodbye to the delisting of U.S. companies | APEC | Xi Jinping | U.S.-China Economic and Security Review Commission | USCC | | Federal Retirement Funds | Stock Investments

[Voice of Hope November 15, 2023](Comprehensive report by our reporter Zheng Xin)

US-China tussle continues, USCC report criticizes Beijing for destroying Hong Kong

As Chinese Communist Party leader Xi Jinping arrived in San Francisco, the United States, to attend the APEC summit, the “U.S.-China Economic and Security Review Commission (USCC)” issued an annual report stating that the Chinese Communist Party continues to arbitrarily change Hong Kong’s system and eliminate the once vibrant civil society. The report requires the U.S. Congress to assess the constraints on Hong Kong’s judicial independence and impose sanctions on relevant individuals, including foreign judges of Hong Kong’s Court of Final Appeal, accordingly.

The report is divided into six chapters. Regarding Hong Kong, the report directly named Chief Executive Li Jiachao as “Beijing’s thug”. He reversed the democratic system that Hong Kong once had to cater to Beijing’s interests and allowed the Chinese Communist Party to control Hong Kong’s political, judicial, religious and educational systems.

The report pointed out that Hong Kong is currently under the control of mainland China and appoints judges and key officials loyal to Beijing to strictly interpret the “Hong Kong National Security Law”. The implementation of this law exceeds its judicial power and destroys Hong Kong’s laws. system.

The report mentioned that Beijing’s excessive jurisdiction has triggered Hong Kong people to leave Hong Kong, and those who choose to stay must decide whether to conduct self-censorship. At the same time, the influx of manpower and investment from mainland China has strengthened Hong Kong’s monopoly business environment and strengthened Hong Kong’s dependence on the mainland.

The report criticized Beijing’s efforts to restore Hong Kong’s international image as superficial and purely to attract overseas investment business.

The report also stated that the Hong Kong government is conducting extraterritorial law enforcement, accusing individual overseas individuals on the grounds of national security, placing red notices on overseas pro-democracy activists, and trying to intimidate their families. In addition, Hong Kong has become a transshipment center for the transfer of American technology to Russia, and Hong Kong companies have joined China in assisting the Russian technology supply chain.

The report requires the U.S. Congress to take action to include in the annual report required by the Hong Kong Autonomy Act the situation in which the Hong Kong government restricts expatriate Hong Kong residents from using their financial accounts in Hong Kong, including being restricted from withdrawing Mandatory Provident Fund funds. and impose sanctions on individuals involved in restricting immigration freedoms. At the same time, the U.S. Congress may also consider taking measures to prevent U.S. financial institutions involved in managing the funds of Hong Kong people from participating in infringing on immigration freedoms and withholding their legal pensions.

The report also requires that the Hong Kong Autonomy Law be revised to include in its annual report an assessment of the limitations of Hong Kong’s judicial independence. Based on the assessment results, Congress can impose sanctions on individuals serving in Hong Kong’s judicial institutions. Those sanctioned include the Hong Kong Final Advocate. Foreign judges of the court.

In addition, the report also examines the economic, trade and diplomatic relations between the United States and China in the past year, how the CCP affects overseas ideology and open societies, potential risks to China’s future economic competitiveness, and the CCP’s pursuit of military influence on the world.

On the same day that the USCC released its annual report, Xi Jinping arrived in San Francisco, USA. Before Xi Jinping’s trip, the Chinese Communist Party’s official media uncharacteristically softened its tone, sang the praises of U.S.-China friendship, and tried to portray this visit to Xi Jinping in San Francisco as “a new chapter of mutual respect, peaceful coexistence, and win-win cooperation.” Not only that, the CCP also ordered 3 million tons of soybeans from the United States before Xi Jinping. It is said that Xi Jinping also has an order for Boeing aircraft during this trip.

Corresponding to Beijing’s “hot head”, US President Biden told the media before leaving for San Francisco on November 14: “When a crisis occurs, being able to restore normal communications and pick up the phone to talk to each other can ensure that we “The military maintains contact”, then this meeting between the heads of state of the United States and China will be considered a success.

Biden also pointed out, “In fact, China is now in an economic crisis. If ordinary people in China have a job with a good salary, it will be good for them and good for everyone. But I will not continue to support our companies if Chinese investment must hand over all business secrets.”

In addition, after Xi Jinping arrived in the United States, protesters followed him wherever he went.

On the 14th, on the day Xi Jinping arrived, protesters composed of Hong Kong people, Tibetans, Uyghurs and Chinese pro-democracy activists were waiting outside the airport.

The protesters carried the Hong Kong “Time of Light” flag, the Snow Mountain Lion Flag, banners imitating the Sitong Bridge protesters, posters of the National Memorial Pillar, etc., and shouted “Communist bandits step down”, “Free Hong Kong”, “Free Tibet”, “No human rights” No freedom” and other slogans.

Bruce, the head of the Hong Kong Association of America, which participated in the protest, told Free Asia that he participated in the event to let Xi Jinping know, “I want him to know how serious we are about his policies. Dissatisfaction, including human rights issues in Tibet and Xinjiang.”

Chief Executive Lee Ka-chiu, who has been sanctioned by the United States, earlier claimed that he had received an invitation from the organizers of the APEC meeting, but was unable to attend the meeting in person due to “schedule matters” and instead sent Financial Secretary Paul Chan Mo-po. Wednesday (15th) is the first day of the APEC meeting. Li Jiachao, who is staying in Hong Kong, posted three posts in a row on social platforms to explain his full-day schedule, proving that he has a compact schedule.

Li Ka-chao posted three rare posts on his Facebook page on the 15th, explaining that he visited the Wong Tai Sin District preschool after-school care service center and a “community nanny” to explain the policy to encourage childbirth; and went to Kwun Tong Shun Shui Estate to explain ” Smart Green Mass Transportation”, during which citizens are encouraged to vote. The last one is a short video summarizing the whole day’s itinerary.

In addition, referring to the announcement of the Hong Kong Government Information Service, Li Jiachao attended and delivered speeches at two institutional events on the 15th, including the Food Wish Hall Jockey Club and the “China Economic Operation and Policy” International Forum, and also provided video speeches for two other events.

When the media asked Li Jiachao, why did he stay in Hong Kong during APEC? Li Jiachao responded, “I have already said that due to schedule reasons, the Financial Secretary was appointed to attend the APEC meeting.”

When asked whether other officials would be assigned to other “telling the Hong Kong story” events held in the United States in the future, Li said that future arrangements would depend on the actual schedule.

The news sparked heated discussions among netizens.

Some netizens said, “I am not allowed to go to the United States, I can only pretend to be a job.”

Some netizens joked, “The villagers of Shunli Village said: We are more important than APEC!”

Some netizens also said bluntly, “Clocking in and pretending to be busy… There is no silver 300 taels here!”

The 2023 APEC Summit will be held in San Francisco from November 11 to 17. Since Li Jiachao has been sanctioned by the US government, people from all walks of life have been paying close attention to whether he can attend APEC.

At the beginning of this month, the Hong Kong government confirmed that Li Jiachao had received an invitation from the United States to attend the meeting, but was unable to attend the meeting in person on behalf of Hong Kong “due to schedule matters” and appointed Paul Chan to attend on his behalf.

Ming Pao quoted Ryan Hass, former China Affairs Director of the U.S. National Security Council and director of the China Center at the Brookings Institution, as saying that at the APEC summit, the top leaders of the Chinese Communist Party prioritized seeking stability in Sino-U.S. relations. In order to avoid affecting higher goals, they ruthlessly The Li family was super pragmatic.

The U.S. Federal Retirement Thrift Investment Board, which manages US$771 billion in U.S. federal retirement funds, recently announced that it will adjust the benchmark index of its international funds to exclude stock investments in Hong Kong and Mainland China.

The Federal Retirement Thrift Investment Board issued the above statement on November 14.

Fund advisory company Aon Plc said that the U.S. government’s investment restrictions on China’s sensitive industries, the delisting of Chinese companies from U.S. exchanges, and U.S. sanctions on Russia have led to fluctuations in the fund’s transaction costs and returns, which have affected the investment in China and Hong Kong markets. The uncertainty that comes with it outweighs the returns on some investments.

In recent years, Washington has increasingly restricted the range of Chinese companies in which U.S. investors can invest due to national security concerns.

Agence France-Presse quoted Roger Robinson, former chairman of the U.S. Congress’s U.S.-China Economic and Security Review Commission, as saying that this decision “sends a clear message to Wall Street, state pension systems and many other institutions that investors, our Substantial risks to national security and human rights policies require the exclusion of these securities.”

Editor in charge: Lin Li

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