The US has compiled a list of 24 officials from China and Hong Kong, for which foreign financial institutions will be prohibited from making significant transactions under the threat of US sanctions, the US Secretary of State Anthony Blinken said on Tuesday.
"Today the United States listed 24 PRC and Hong Kong officials under the Hong Kong Autonomy Act in response to the PRC further undermining the autonomy, rights, and freedoms promised to people in Hong Kong", Blinken said.
According to the statement, the latest decision is an update to the report submitted to Congress on October 14, 2020, which listed 10 foreign persons that Washington claimed are "materially contributing to, have materially contributed to, or attempted to materially contribute to the failure of the People’s Republic of China (PRC) to meet its obligations under the Sino – British Joint Declaration (“Joint Declaration”) or Hong Kong’s Basic Law, as this is defined by section 5(g) of the HKAA".
On Thursday, China's parliament adopted a resolution to reform Hong Kong's electoral system, in an effort to address the city's violent protests. The electoral changes were slammed by the G7 nations, who warned that the amendments would "erode democratic elements" of the electoral process in Hong Kong.
Beijing said in response that it was legal for China to amend laws of its administrative region. The reform seeks to give "patriots" a bigger say in how the semi-autonomous city should be governed. It will expand the electoral college from 1,200 to 1,500 members to include lawmakers, technocrats, bankers, industrialists, and leaders of religious and grassroots organizations.
In a statement published on the Hong Kong government's website, regional Chief Executive Carrie Lam said that Beijing implemented the initiative to adjust Hong Kong's electoral system, so it fits the so-called one country, two systems principle.
