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Hong Kong Business Advisory [ https://www.state.gov/hong-kong-business-advisory/ ] 09/06/2024 12:16 PM EDT
Office of the Spokesperson
On September 6, the U.S. Departments of State, Agriculture, Commerce, Homeland Security, and Treasury jointly released an updated  (last issued in July 2021), warning U.S. businesses about risks to their operations and activities in Hong Kong.
Businesses should be aware that the risks they face in the PRC are now increasingly present in Hong Kong.  The NSL, the SNS Ordinance, and actions by PRC and Hong Kong authorities, such as the imposition of bounties, may negatively affect businesses’ staff, finances, legal compliance, reputation, and operations.  This updated business advisory provides companies with information that can assist them in making informed business decisions and properly assessing risk.
The advisory highlights the following:
* “Businesses operating in Hong Kong, as well as individuals conducting business on such companies’ behalf, are subject to the broad and vague provisions of the NSL and the SNS Ordinance.”
* “Businesses should be aware that the extraterritorial application of the SNS Ordinance could impact businesses and individuals outside Hong Kong.”
* “Businesses operating in Hong Kong face potential legal, regulatory, operational, financial, and reputational risks, including of increased scrutiny, potential financial penalties, and legal actions for perceived violations of the NSL or the SNS Ordinance.”” ”
* “Businesses operating in Hong Kong may face conflicting jurisdictional requirements and liability in connection with sanctions compliance efforts.  Failure to adhere to U.S. sanctions can result in civil and criminal penalties under U.S. law.”
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