Podcast #10: Special Roundtable on Hong Kong's National Security Law and the US Response

July 03, 2020 | BY

Vincent Chow

Hong Kong's status as a global business center looks more uncertain than ever as pressure grows both from Beijing and Washington D.C.

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                                                  Riot police march along a road during a protest against the national security law in the Causeway Bay district in Hong Kong, China, on Sunday, May 24, 2020. Photographer: Roy Liu/Bloomberg

A strict new national security law has arrived in Hong Kong, marking the most significant shakeup to the city's relationship with the mainland since the handover more than two decades ago. In this episode, three lawyers dissect the implications for businesses of the new law as well as the Trump administration's response in the form of sanctions and greater export control restrictions.

For the full episode, click here to listen on Apple Podcasts and here for Spotify.

Thomas So is a Hong Kong-based partner of Mayer Brown and a member of the National Committee of the Chinese People's Political Consultative Conference.

Wendy Wysong is Hong Kong managing partner at global law firm Steptoe & Johnson. She is a former Deputy Assistant Secretary for Export Enforcement in the Department of Commerce.

Nick Turner is Hong Kong-based of counsel at Steptoe & Johnson. He was previously regional sanctions officer, senior vice president at Citibank in Hong Kong.

The China Law Podcast is a weekly podcast exploring China's business and financial sectors from a legal perspective. Get in touch at [email protected] with any feedback and ideas for future episodes.

Episode outline

  • 01:31 How companies are expected to comply with the new law
  • 04:12 Companies' internal policies for staff behavior
  • 06:09 Concerns about extraterritorial nature of the law and potential impact on business
  • 11:08 What the Hong Kong Autonomy Act threatens to do
  • 14:32 Scope of the sanctions bill and which financial institutions could be targeted
  • 18:16 Why a new sanctions law is necessary for the U.S. response
  • 20:17 New U.S. export control restrictions on Hong Kong
  • 24:38 Revoking of Hong Kong's special export control privileges

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