British investment minister visits Hong Kong, first official visit in 5 years | Canada News Media
Connect with us

Investment

British investment minister visits Hong Kong, first official visit in 5 years

Published

 on

HONG KONG — Britain’s Minister for Investment Dominic Johnson said he held a series of meetings with government officials and executives in Hong Kong this week, the first official visit from a senior British official to the city in five years.

Johnson’s visit comes after relations between Britain and Hong Kong have been increasingly strained since 2020 when Beijing imposed a national security law in the former colony.

Johnson said he was in Hong Kong to promote the United Kingdom as a leading destination for investment and trade.
“Hong Kong is one of the world’s leading international financial centers and we have shared interests from financial services to infrastructure to sustainability,” he wrote on Twitter.

Johnson also wrote in an opinion piece in the South China Morning Post on Tuesday that Britain would engage with China and Hong Kong where interests converge but would stand up for its values “and be clear about our right to act when Beijing breaks its international commitments or abuses human rights.”

Britain will not look the other way on Hong Kong he said, adding that the country would not duck its historic responsibilities.

“As a co-signatory to the Joint Declaration, we will continue to stand up for the people of Hong Kong, to call out the violation of their freedoms, and to hold China to their international obligations.”

Hong Kong and Beijing have said previously that Britain had no rights over the city under the joint declaration that laid the blueprint for how the city would be ruled after its 1997 reunification with China.

Photos on Johnson’s Twitter account published on Monday showed him meeting with Christopher Hui, Hong Kong’s secretary for Financial Services and the Treasury “to discuss our ongoing work to remove market barriers and increase UK-Hong Kong trade.”

He also met with CK Hutchison Chairman Victor Li and co-managing director Canning Fok to discuss the company’s investment plans in Britain.

Johnson visited the city’s Cyberport area on Monday, which authorities have been trying to develop as a start up area, according to photos he posted on his feed.

When asked about Johnson’s visit, Hong Kong’s chief executive John Lee said on Tuesday he welcomed foreign officials to come to Hong Kong to promote business, trade and people-to-people relationships, as Hong Kong has always relied on international and regional cooperation for its success.

“It’s just some countries because of their political interests make certain moves to jeopardize the relationships,” Lee said without directly referring to Britain.

“We should all focus on economic development for mutual benefit…we should be pragmatic and promote favorable policies.”

Hong Kong’s government did not respond to a request for comment on Johnson’s trip nor did the British consulate provide any details. Johnson’s meetings have all been closed door and not available for media.

He is due to leave Hong Kong on Tuesday.

Western governments including Britain’s have criticized the security law as a tool to crush dissent.

Chinese and Hong Kong authorities say the law, which punishes subversion, collusion with foreign forces and terrorism with up to life in prison, has brought stability after the 2019 protests.

Britain’s Foreign Secretary James Cleverly said last week he had “made plain” Britain’s views on Hong Kong, Xinjiang and Taiwan in a meeting with Chinese Vice President Han Zheng during the latter’s visit to London for King Charles’ coronation.

London has restricted Chinese investment over national security worries and expressed concern at Beijing’s increasingly military and economic assertiveness.

(Reporting by Farah Master and Jessie Pang; Editing by Lincoln Feast and Michael Perry)

 

Source link

Continue Reading

Investment

S&P/TSX composite up more than 100 points, U.S. stock markets mixed

Published

 on

 

TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Economy

S&P/TSX up more than 200 points, U.S. markets also higher

Published

 on

 

TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Economy

S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

Published

 on

 

TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Trending

Exit mobile version