May 31, 2020 

Officials in the Hong Kong Special Administrative Region (HKSAR) remain defiant over US threats to impose sanctions on the city following the adoption of a national security legislation for Hong Kong, as they mounted a fierce defense against what they call US' hypocrisy and double standard. They insisted that the city is not worried about the impact of potential US sanctions.

While the US threatened sanctions, which include a plan to revoke special trade arrangements, would likely add some pressure to the city's already sluggish economy, they will not change Hong Kong's status as a global financial and commercial hub established over centuries and further economic integration with the Chinese mainland will continue to ensure the HKSAR's long-term prosperity, officials and experts said on Sunday.  

Furthermore, the potential US sanctions are also self-destructive, as they pose serious risks and damage for hundreds of US businesses operating in the city, investments totaling tens of billions of dollars, the biggest source of trade surplus, officials and experts noted.

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https://www.globaltimes.cn/content/1190095.shtml