Taiwan: Businesses 'risky' after Hong Kong halts Next Digital trading; freeze Lai's assets

Taiwan on Sunday warned that re are now surging risks for monetary investments and businesses in Hong Kong after authorities froze assets for billionaire pro-democracy tycoon Jimmy Lai under Beijing’s draconian national security law. Tring for Lai’s Next Digital shares was abruptly halted by Hong Kong stock exchange after publishing company of pro-democracy tabloid ‘Apple Daily’ found that Hong Kong government h suspended its stocks, Next Digital said in a company filing, earlier yesterday.

Hong Kong’s international finance hub, according to multiple reports, resort to financial crackdown on China’s dissent Lai as he appeared in court Monday,  along with 9 or prominent pro-democracy figures, to ple guilty for charges of illegal assembly and protests against Beijing’s policies on China’s national day on Oct. 1, 2019. 

73-year-old and founder of controversial Apple Daily newspaper was sentenced in April to at least 14 months in prison over two separate unauthorized protests after he was arbitrarily arrested by Hong Kong police for his anti-government stance. Lai opposed China’s extrition bill that, he said, was in breach of policies as it provided Beijing leeway to extrite protesting Hong Kongers to mainland China to stand trial, bill, however, was later withdrawn.

China imposed National Security Law to tighten its control over Hong Kong and quell pro-democracy movement. draconian law criminalizes secession, subversion, terrorism, and foreign collusion, and Lai was detained and probed by national security department for foreign collusion. 

'Businesses under threat' due to controversial law

Taiwan's Mainland Affairs Council, on Sunday, lambasted Hong Kong’s freezing of Lai’s assets saying that move determined risks that come with investing in businesses in Hong Kong; and were obviously visible to international community. It continued, that Hong Kong’s actions highlighted Beijing’s National Security Law's threats in statements issued and accessed by Taiwanese state brocasters.

Hong Kong jitters business sentiments of potential investors by suppression of stakeholders, business entities and exercising oppression of businesses and large shareholder under National Security Law, Taiwan's Mainland Affairs Council, noted. Following assets freeze, and declaring a national security offense for business tycoon, Hong Kong’s government issued statement, stating:  “Relevant persons and organizations must not, directly or indirectly, deal with certain property which is reasonably suspected to be related to offenses endangering national security.”