The House Select Committee on the Chinese Communist Party (CCP) has asked the U.S. Treasury Department to reexamine the United States’ relationship with Hong Kong, given the CCP’s stronger hold on the city through the implementation of a 2020 update to the Hong Kong National Security Law.
Led by committee chair Rep. John Moolenaar (R-Mich.) and ranking member Rep. Raja Krishnamoorthi (D-Ill.), the lawmakers requested a briefing, pointing to evidence that Hong Kong may now be used by Russia, North Korea, and the Chinese regime to evade international sanctions and reroute financing for the Russian war.
“Hong Kong has shifted from a trusted global financial center to a critical player in the deepening authoritarian axis of the People’s Republic of China (PRC), Iran, Russia, and North Korea,” the lawmakers wrote in a letter published Nov. 25. “We must now question whether longstanding U.S. policy towards Hong Kong, particularly towards its financial and banking sector, is appropriate.”…