Rumors about national security law for HK debunked (10)

Some people from the US and other Western countries have recently made groundless accusations against and disseminated many fallacies about the Law of the People's Republic of China on Safeguarding National Security in the Hong Kong Special Administrative Region.

Here is one of the rumors they spread, and the fact.

Rumor: The legislation on safeguarding national security in Hong Kong will jeopardize Hong Kong's prosperity and stability.

Fact:

- Quite the contrary, the legislation on safeguarding national security in Hong Kong will contribute to Hong Kong's prosperity and stability. Since the turbulence over proposed legislative amendments last June, the "Hong Kong independence" groups and violent terrorist acts have dealt a heavy blow to Hong Kong's rule of law, economy and livelihood. The city's business environment and international image has also been severely damaged. The legislation is designed precisely to reverse that situation. It will help Hong Kong sustain a favorable business environment, consolidate and elevate its status as a financial, trade and shipping center, and bolster the confidence of foreign investors. After its adoption, the NPC decision received explicit support from many Hong Kong-based foreign-invested corporations, including HSBC, Standard Chartered, Swire and Jardines. They are all convinced that the legislation will contribute to the lasting stability of Hong Kong, and serve as the very foundation and prerequisite for all development.

- Around the globe, be it New York or London, no international financial center will see its business environment undermined by the enforcement of a national security legislation. A recent survey by the American Chamber of Commerce in Hong Kong shows that more than 70 percent of companies don't have plans to move capital, assets, or business operations from Hong Kong, and more than 60 percent of the respondents personally don't consider leaving the city. No businesses will turn against opportunities and profits.

- The Macao SAR passed its national security legislation in 2009 in accordance with Article 23 of its Basic Law. From 2009 to 2019, Macao's GDP soared by 153 percent, its number of tourists up by 81 percent, and its overall unemployment rate down to a ten-year low.