20 Aug 2020
Hong Kong’s leader said she’s having trouble using her credit cards after the U.S. imposed sanctions targeting Chinese officials and their allies in the city.
“As for myself, of course it will have a little bit of inconvenience here and there, because we have to use some financial services and we don’t know whether that will relate back to an agency that has some American business — and the use of credit cards is sort of hampered,” Chief Executive Carrie Lam said in an interview with Chinese state broadcaster CGTN posted late Monday. “But those are really meaningless as far as I’m concerned.”
Lam was one of 11 officials sanctioned earlier this month by President Donald Trump for their roles in curtailing political freedoms in Hong Kong, amid the implementation of new national security legislation imposed on the city by China in June.
Lam said at a weekly briefing Tuesday that U.S. sanctions against her — and broader retaliation from the Trump administration against Hong Kong — are “totally unjustified.” She said her inability to visit the U.S. wouldn’t impede Hong Kong’s efforts to advertise itself as a base for American firms, and said her administration was considering contesting the measures at the World Trade Organization.
“Despite some inconvenience in my personal affairs, that is nothing that I will take to heart at all,” Lam said at the press conference, before a meeting of her advisory Executive Council. “We will continue to do what is right for the country and for Hong Kong.”
Spokespeople for Visa and Mastercard didn’t immediately reply to messages requesting comment outside of business hours.
China’s largest state-run banks operating in Hong Kong are taking tentative steps to comply with U.S. sanctions imposed on officials in the city, Bloomberg reported last week, as they seek to safeguard their access to crucial dollar funding and overseas networks. Major lenders with operations in the U.S. including Bank of China Ltd., China Construction Bank Corp., and China Merchants Bank Co. have turned cautious on opening new accounts for the 11 sanctioned officials, people familiar said.
Lam said Tuesday that she would announce a third round of virus-control measures. She didn’t give a time frame, but said authorities would sort out the details quickly.
“There are still infected people in the community, so we must not let down our guard,” she said.
Hong Kong has extended all existing Covid-19 related social distancing measures for a week — to August 25 — as it continues to battle a new wave of cases. There was still no sign of a steadily decreasing trend in new infections, Lam said, adding that she was still concerned that there are many silent carriers in the community.
By Iain Marlow and Natalie Lung, Bloomberg, 18 August 2020
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