The Business Times
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THE BROAD VIEW

Do tougher laws hamper or aid financial hubs?

    • While Hong Kong's proposed security law and Singapore's Fica both deal with matters of national security, the two pieces of legislation are quite different.
    • While Hong Kong's proposed security law and Singapore's Fica both deal with matters of national security, the two pieces of legislation are quite different. PHOTOS: UNSPLASH

    Woo Jun Jie

    Published Sat, Mar 23, 2024 · 05:00 AM

    IN A bid to fast-track the legislation process of its new security law, Hong Kong gazetted its Safeguarding National Security Bill on Mar 9 and tabled it for vetting by its legislature on the same day.

    Comprising 66 articles over six chapters that grant authorities greater power to uncover and address national security threats, the Bill plugs several legislative gaps by creating Hong Kong’s own national security legislation, rather than relying on a national security law implemented by Beijing in the aftermath of the 2019 protests.

    These developments have given rise to fears within the business community that the proposed legislation will erode, and ultimately disrupt, Hong Kong’s position as an international financial centre.

    Hong KongSingaporeFinancial centres

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