The US Congress quickly passed the “Hong Kong Accountability Law” to take effect within 10 days
On Thursday (July 2), the US Senate passed the cross-party “Hong Kong Autonomy Law” again without objection, also known as the “Hong Kong Accountability Law.” The day before, the two parties in the House of Representatives unanimously passed the “Hong Kong Autonomy Law.”
So far, the version of the “Hong Kong Accountability Law” of the House of Representatives and the Senate has not only been integrated within one day, but has also been passed quickly, just as Trump signed it into force.
In a parliament with heated party debates, the two parties and the two courts have shown a high degree of unity and efficiency in maintaining Hong Kong’s autonomy and punishing the CCP.
The number of the “Hong Kong Autonomy Law” is HR7440. The full text can be found on the US government website.
After receiving the bill submitted by Congress, President Trump has 10 days to sign or veto the bill, otherwise the bill will automatically take effect after 10 days.
Democrat Senator Van Hollen said: “I hope President Trump will sign this bill immediately. As a country, Republicans and Democrats must make a strong voice that we do not support Beijing’s destruction of their own signatures, which stipulates them under international law The agreement that should be followed.” He said, “When they suppress Hong Kong’s freedom, we will not remain indifferent, remain silent, and do nothing.”
Apollo commentator Wang Duran said that Trump will not veto the bill. Trump and the White House have stated that the situation in Hong Kong has changed and no longer has a special status. The Senate and House passed the Hong Kong Autonomy Law without a single vote. Even Trump’s veto was useless. The bill will take effect at the latest 10 days, but I believe Trump will not let this bill take effect automatically, and will sign it in advance for the bill to take effect.
List of banks that sanctioned CCP officials for doing business within 90 days
VOA reported that the “Hong Kong Autonomy Law” will impose a compulsory “1” on Chinese officials and entities that violate the “Sino-British Joint Declaration” and the “Hong Kong Basic Law” to commit Hong Kong people and promote the Hong Kong version of the National Security Law to undermine Hong Kong’s autonomy. Level sanctions”. In addition, “secondary sanctions” will be imposed on all banks with which they do business.
The Hong Kong Autonomy Act will impose sanctions on Chinese Communist Party officials who threaten and damage Hong Kong’s autonomy, as well as banks and companies with which they do business, including freezing assets and refusing to issue visas.
According to the content of the bill, within 90 days after the bill comes into effect, the US Secretary of State will discuss with the Secretary of the Treasury, identify individuals and entities that fail to fulfill the obligations of the “Sino-British Joint Declaration” and the “Hong Kong Basic Law” to Hong Kong people, and report to the relevant Congressional Committee and Leaders submit reports.
The bill also includes that the US State Department and the Treasury Department will list banks that have business dealings with the above individuals and entities and impose secondary sanctions. And this scope may be extended to most major Chinese banks, which means that there is a potential to cut off the cooperation between these banks and American banks, and restrict them to use US dollars for transactions.
Although the sanctions of the bill mainly target foreign banks, the sanctions also apply to foreign subsidiaries of US financial institutions.
In addition, the “Hong Kong Autonomy Law” will also limit the President’s immunity from sanctions.
The President of the United States must submit a report to Congress stating the reasons and obtaining congressional permission before the sanctions imposed on the listed individuals, entities and financial institutions can be terminated.
Historical witness! A startling scene that the Chinese have never seen
Picture: Hong Kong people delivered buns to repatriated land passengers in 1962 (video screenshot)
Netizens posted a tearful video taken in 1962: A bus was loaded with mainland smugglers. They had just experienced a starvation of 40 million people starving to death. They smuggled into Hong Kong but were sent back to the mainland. Hong Kong citizens spontaneously throw food on the stowaway buses repatriated to the mainland…
A video that every Chinese should watch!
Sixty years ago, tens of millions of people died of starvation in China. The people of Hong Kong spontaneously throw food on the stowed land passenger cars sent back to the mainland… pic.twitter.com/wfM50LedFQ
— Financial Cold Eyes (@caijinglengyan) July 1, 2020
Some netizens said: “The worst thing is that the people who fled to Hong Kong fled to Hong Kong when they were young, and they finally had a home. When they were old, the bandits chased them down again, not only beating their children, but also trying to occupy them. Home. What on earth is home?”