US President Joe Biden's recent meeting with Chinese President Xi Jinping could signal a recouple in US and China's business relationships. (Photo : BRENDAN SMIALOWSKI/AFP via Getty Images)
A proposed US bill is moving to control and take down the trade offices in Hong Kong, and China is not allowing it to happen, stating that it would damage the now-healing US-China relations.
CNBC reported that the proposed bill, called HKETO or Hong Kong Economic and Trade Office Certification, will mean annual review from US secretary of state to all exemptions, immunities and privileges given to the Economic and Trade Offices.
Operations will be specifically terminated if the US secretary state found that an office is no longer working independently from the Chinese government, involved in concerning activities, already too controlled by China or is already a threat.
HKETO is now heading for Senate after gaining major support in the House of Representatives, following 'China Week,' where all lawmakers counter possible threats from the Chinese government in different sectors.
China's Possible Retaliation Against US HKETO Bill
Now, Beijing slammed US for approving the bill, calling it an interference with regular economic activities by limiting Hong Kong's trade growth and progress.
"China urges the U.S. to stop advancing that act to prevent further damage to the stability and growth of China-US relations. Otherwise, China will take strong and resolute countermeasures," China Daily shared.
The Hong Kong government shares the same sentiment with China and accused US of twisting international laws and norms for their own good.
Currently, China Daily noted that Hong Kong controls about 14 Economic and Trade Offices in other countries to not just promote trade activities, but also, encourage foreign companies to have and invest in a possible Hong Kong counterpart.
In defense, HKETO proponents accused these overseas offices for being a representative of China and spreading their influence, since it has an indirect control of Hong Kong.
Interestingly-the said accusation came from the worsening Hong Kong-Washington relation, following new security law in 2020. Per VCPost, the law implemented in March enforced more strict rules that China believe could strengthen national security, however, US representative believe it could further threaten Hong Kong autonomy and US-owned businesses.