Funds from HK to face greater scrutiny

UNCLEAR LINES: The government is to take national security concerns into account when reviewing investment funds coming from Hong Kong and Macau, a source said

Taipei Times
Date: Jul 14, 2020
By: Yimou Lee and Emily Chan / Reuters, TAIPEI

Hong Kong Chief Executive Carrie Lam speaks at a news conference in Hong Kong yesterday about the COVID-19 pandemic.
Photo: Reuters

The government intends to enhance scrutiny over investment from Hong Kong to prevent illicit money from China “infiltrating” the economy, after Beijing imposed a National Security Law on the territory, a source with direct knowledge of the matter said.

Taiwan has traditionally treated investment from Hong Kong and Macau as foreign investment, without the same controls and limits it has on money coming from China.

However, Beijing’s contentious new legislation for Hong Kong targets crimes of secession, subversion, terrorism and collusion with foreign forces with up to life in prison, and allows people to be sent to China for trial.

Taiwan is on alert to ensure any influx of Hong Kong money is not secretly coming from China.

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