Reuters was first to report that the United States was preparing to impose sanctions on up to 14 Chinese officials over their alleged role in Beijing’s disqualification of elected opposition legislators in Hong Kong. China’s foreign ministry responded to the report by condemning “U.S. interference in China’s domestic affairs through the Hong Kong issue.” The U.S. State Department confirmed the sanctions plan the day after the Reuters report was published.
Business & FinancePolitics
Reuters reveals U.S. preparing new sanctions on Chinese officials over Hong Kong crackdown; market reacts
07 December 2020, 9:22 pm 1 minute
Market Impact
Following the Reuters report, stock markets in Asia gave up early gains on worries the move may signal a further deterioration in relations between the world’s two largest economies. Chinese financial stocks traded in Hong Kong fell 2.3% in morning trading, their sharpest drop in six months, amid concerns that sanctions could be extended to banks.
Article Tags
Topics of Interest: Business & FinancePolitics
Type: Reuters Best
Sectors: Economy & Policy
Regions: AsiaNorth America
Countries: China
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Major Global Story
