American businesses in Hong Kong face operational risks similar to those in mainland China, says US envoy

The US consul general in Hong Kong warned American businesses that the operational risks they face in Hong Kong are resembling those now in place in mainland China.

Washington’s top diplomat in the city, Hanscom Smith, said Hong Kong’s “strength as a business hub will continue to erode” if it stays on its current trajectory. His grim take came days after the city marked its 25th anniversary of being handed over from British to Chinese rule.