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World Japan Ruling Party Wants to Lure Hong Kong’s Finance Workers

04:51  01 july  2020
04:51  01 july  2020 Source:   bloomberg.com

Beijing converts Hong Kong hotel into new national security office

  Beijing converts Hong Kong hotel into new national security office Beijing converts Hong Kong hotel into new national security officeThe office will oversee the Hong Kong government's enforcement of Beijing's sweeping national security legislation that will punish acts of secession, subversion, terrorism and collusion with foreign forces with up to life in prison.

Katayama raised the idea of seeking to lure Hong Kong ’ s financial professionals in parliament in June, eliciting a Katayama said the party is looking to produce an interim report in the autumn and a fuller report by the end of the year. Japan ’ s Ruling Party Seeks to Make Tokyo a World Finance Hub.

TOKYO (Reuters) - Japan will boost visa support, lure more international schools and streamline procedures for obtaining investment management licenses to attract highly skilled foreign finance workers China on Saturday unveiled details of a new national security law for Hong Kong , which

(Bloomberg) -- Tokyo may have a chance to realize a long-held dream of becoming a global financial hub if it can attract people fleeing a Chinese clampdown on Hong Kong, according to a senior Japanese ruling party lawmaker.

a tall building in a city: A guard tower of the Imperial Palace, left, stands near buildings in the business district in Tokyo. © Bloomberg A guard tower of the Imperial Palace, left, stands near buildings in the business district in Tokyo.

The Liberal Democratic Party began debating details Wednesday about making the Japanese capital more attractive to international firms, a day after China’s government asserted broad new powers over Hong Kong with a national security law that risks endangering the city’s appeal as a global business hub.

The USA punishes Chinese officials on Hong Kong

 The USA punishes Chinese officials on Hong Kong USA-CHINA-HONG-KONG: The USA sanctions Chinese officials on Hong Kong © Reuters / Aly Song THE USA SANCTIONS CHINESE OFFICERS ON HONG KONG WASHINGTON (Reuters) - The United States has decided to impose visa restrictions on officials of the Chinese Communist Party (CCP) found to be responsible for the freedom violations in Hong Kong, Secretary of State Mike Pompeo announced on Friday.

Japan will boost visa support, lure more international schools and streamline procedures for obtaining investment management licenses to attract highly skilled foreign finance workers , according to a China on Saturday unveiled details of a new national security law for Hong Kong , which has raised

TOKYO — Japan will boost visa support, lure more international schools and streamline procedures for obtaining investment management licenses to attract highly skilled foreign finance workers , according to a draft proposal from the ruling party seen by Reuters.

“What Japan offers that Hong Kong doesn’t is freedom,” Satsuki Katayama, who heads an LDP panel on foreign labor, said in an interview Tuesday. “If Hong Kong becomes the kind of place where people’s Facebook likes are being checked, will they put up with that? I think people want to live somewhere normal.”

The Chinese law brings yet more uncertainty as Hong Kong faces its deepest recession on record after months of pro-democracy protests and the coronavirus pandemic. Unemployment has risen to a 15-year high, while investors are putting money elsewhere. Some expatriates and Hong Kong residents have said they’re considering leaving the city.

The U.S. has already responded by beginning to remove the city’s special trade privileges.

Australia suspends extradition treaty with Hong Kong

 Australia suspends extradition treaty with Hong Kong AUSTRALIA-HONG-KONG: Australia suspends extradition treaty with Hong Kong © Reuters / CARLO ALLEGRI AUSTRALIA SUSPENDS EXTRADITION TREATY WITH HONG KONG SYDNEY (Reuters) - Australian Prime Minister Scott Morrison announced on Thursday the suspension of the extradition treaty put in place with Hong Kong, after the imposition by Beijing last week of a new security law which authorizes the extradition to mainland China of suspects arrested in the former British colony.

Japan will boost visa support, lure more international schools and streamline procedures for obtaining investment management licenses to attract highly skilled foreign finance workers , according to a China on Saturday unveiled details of a new national security law for Hong Kong , which has raised

Compared to Hong Kong ’ s skyscraper-studded urban jungle, Taipei is low-rise and slow-paced, with locals riding share bikes and scooters along tree-lined boulevards. While Hong Kongers can only dream of democracy, Taiwanese have been holding free elections for a generation.

U.S. Halts Some Hong Kong Trade Benefits Over China Security Law

Some of the problems Japan faces include a tax burden that can be higher than in other Asian financial hubs, bureaucracy seen as excessive and a language barrier. On top of this, Japan currently bars almost all foreigners from more than 100 countries and regions from entering in a bid to contain the spread of the virus.

Katayama raised the idea of seeking to lure Hong Kong’s financial professionals in parliament in June, eliciting a favorable response from Prime Minister Shinzo Abe. That spurred the LDP to include the issue in a policy proposal last week. Katayama said the party is looking to produce an interim report in the autumn and a fuller report by the end of the year.

Japan’s Ruling Party Seeks to Make Tokyo a World Finance Hub

She acknowledges it’s not an area in which the country has so far excelled. Only about 13,000 people were recorded as living in Japan on high-level professional visas as of June last year.

Opposition leader Nathan Law announces escape from Hong Kong

 Opposition leader Nathan Law announces escape from Hong Kong © TYRONE SIU / Reuters Demosisto candidate Nathan Law (right) and student activist Joshua Wong (left) greet supporters on the day of the elections for the Hong Kong Legislative Council, September 4, 2016.

In Hong Kong , domestic workers ’ union leaders recalled her as ‘a good consul general who tried to listen to opinions’. Filipino workers are sharing stories of lives torn apart and financial losses after being prevented from returning to Hong Kong after Manila banned travel to and from China.

Hong Kong ’ s government will complete necessary procedures as soon as possible to publish the legislation in the government gazette in order for it to take effect later Tuesday, Chief Executive Carrie Lam said in an evening statement. The statement didn’t include the full text of the law.

“If Japan had a lot of advantages, this would already be happening,” she said, citing inheritance and other taxes, along with the language difficulties, among Japan’s weak points. On the other hand, its 127 million-strong population could give it an advantage over smaller countries like Singapore, she added.

The LDP may look into the possibility of a new visa status that doesn’t entail full residency, Katayama suggested. In the longer term, she said she wants to set up a kind of “offshore” zone that would stand apart from Japan’s regular taxation system. The question remains as to whether Japan’s voters would support such a plan, she added.

“It would be a national decision, a political decision,” she said.

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US Senate votes in favor of sanctions law against China for Hong Kong .
© ANTHONY WALLACE In the dispute over the autonomy status of Hong Kong, the US Senate has passed a sanctions law against China. The Chamber of Congress voted unanimously for the text, which provides for punitive measures against anyone who undermines the autonomy of the Chinese Special Administrative Region. In the dispute over the autonomy status of Hong Kong, the US Senate has passed a sanction law against China.

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