Reporter : Li Ming
Editor : Ming Xuan
Publisher : New Tang Dynasty Television
Ref : https://www.ntdtv.com/gb/2020/05/21/a102852897.html
Direct translation : Google
Image : On the evening of May 21, 2020, the TV screen of a square in Hong Kong was broadcasting the news that the CCP would hold the National People's Congress. Some citizens walked under the screen. (ANTHONY WALLACE / AFP via Getty Images)
On Thursday, some Hong Kong media disclosed that the CCP National People's Congress will discuss the Hong Kong version of the "National Security Law" and may be included in Annex 3 of the Basic Law to be implemented directly in Hong Kong. After the news came out, the number of Hong Kong people searching for "national security law" and "immigration" skyrocketed, and the search correlation between the two was as high as 99%. At the same time, the Hong Kong exchange rate fluctuated and Hong Kong stocks went lower. Analysts believe that if the "National Security Law" regulations are implemented in Hong Kong, there will be a wave of divestments and shake Hong Kong's status as an international financial center.
After the CCP’s “two sessions” were postponed for more than two months this year, it opened in Beijing on May 21. The National Committee of the Chinese People's Political Consultative Conference held its first meeting on the 21st. Although the National People's Congress is scheduled to start on May 22, it also held a press conference after the preparatory meeting on the 21st to announce the agenda of the conference. The outside world noted that this year's National People's Congress has an agenda to discuss the issue of empowering the Standing Committee of the National People's Congress to enact legislation on the implementation of national security in Hong Kong.
A number of Hong Kong media quoted sources as they reported that the Hong Kong version of the "National Security Law" will include "prohibition of splitting the country", "subversion of the Central People's Government", "foreign interference" and "terrorism". At the same time, there is news that the "National Security Law of the Port Area" formulated by the Standing Committee of the Communist Party of China will be included in Annex III of the Basic Law.
It is understood that Article 18, paragraph 2, of the Basic Law of Hong Kong provides that “all laws listed in Annex III of this Law shall be promulgated locally or implemented by legislation in the Hong Kong Special Administrative Region”.
Once the Hong Kong version of the "National Security Law" is included in Annex III of the Basic Law, it means that the bill does not need to be consulted by the people of Hong Kong, or even need to be reviewed and approved by the Hong Kong Legislative Council, but can be directly implemented by the Hong Kong government.
At about 10 o'clock in the evening, Hong Kong's "Position News" reported that the news that the Chinese People's Congress would discuss the Hong Kong version of the "National Security Law" and that the bill might bypass the Hong Kong Legislative Council and was directly announced by the Hong Kong government. Public opinion is highly concerned. In the discussion area under the coverage of Hong Kong media, the number of interactions on related topics exceeded 120,000 times in just 3 hours (including sharing and message); the rough word index (MFI) of related messages on Facebook page ) Reached 20%.
According to reports, big data statistics show that after the news about the Hong Kong version of the "National Security Law" was seen in the media that afternoon, Hong Kong netizens searched for "National Security Law" and "immigration" in the search engine. The correlation (Correlation) was as high as 99% This means that the first response of the public to the "killed" National Security Law is immigration.
The report said that the trending moving average (TMA), which reflects the search volume of search engine keyword vocabulary, shows that the demand for news and information for the "national security law" and "immigration" has risen to a new high simultaneously on the afternoon of the 21st; According to the analysis, it can be seen that the general public is also searching for “immigration” while searching for “national security laws”. This is the "most direct response" made by the people of Hong Kong to the upcoming Hong Kong version of the National Security Law.
From the ASI big data analysis chart forwarded by the report, we can see that the correlation between Internet users ’search for“ national security law ”and“ immigration ”on the morning of May 21 is still quite low; The degree immediately soared and quickly reached more than 99%.
(A screenshot of the "Stand News" report.)
(Screenshot of "Standard News" report)
The following financial phenomena related to the Hong Kong version of the National Security Law are also worthy of public attention:
After the news that the Hong Kong version of the "National Security Law" may be included in the Hong Kong Basic Law, the Hong Kong dollar fell sharply at 5 pm on the same day, from 1 US dollar to 7.75 Hong Kong dollars to 7.7539, a range of 39 pips.
The 6-month forward of the Hong Kong exchange rate depreciated once by 100 pips, which was low at 7.774; the 12-month forward was depreciated by 179 pips, and low at 7.7936. The forward exchange rate reflects the market's expectations of future exchange rates.
Hong Kong's "Apple Daily" quoted an unnamed financial person as saying that although the exchange rate rose slightly after a sharp fall on the 21st, observations can be found that the time of the sharp decline of the exchange rate is related to the news of the National Security Law. The timing is exactly the same, and this phenomenon reflects the market's fear that Hong Kong society will return to turmoil.
The report also quoted Guan Zhuozhao, an economist and director of Guanyu Business and Economic Research Center, as saying that if the regulations of the Hong Kong version of the National Security Law are actually implemented, it will cause foreign investors to reexamine their business operations in Hong Kong. There has been a decrease in foreign investment in Hong Kong and even divestment.
Guan Zhuozhao pointed out that Hong Kong has become an international financial center because of its independent rule of law and democratic system. Once this prerequisite is lost, a wave of divestments will inevitably hit Hong Kong's status as an international financial center.
During the Hong Kong Anti-China Campaign, the well-known media person Jiang Feng once said in his program that if Beijing destroys Hong Kong's "one country, two systems", then the United States will not need to cancel the Hong Kong Relations Act, and the CCP itself will remove the special trade zone discounts.
Editor : Ming Xuan
Publisher : New Tang Dynasty Television
Ref : https://www.ntdtv.com/gb/2020/05/21/a102852897.html
Direct translation : Google
Image : On the evening of May 21, 2020, the TV screen of a square in Hong Kong was broadcasting the news that the CCP would hold the National People's Congress. Some citizens walked under the screen. (ANTHONY WALLACE / AFP via Getty Images)
On Thursday, some Hong Kong media disclosed that the CCP National People's Congress will discuss the Hong Kong version of the "National Security Law" and may be included in Annex 3 of the Basic Law to be implemented directly in Hong Kong. After the news came out, the number of Hong Kong people searching for "national security law" and "immigration" skyrocketed, and the search correlation between the two was as high as 99%. At the same time, the Hong Kong exchange rate fluctuated and Hong Kong stocks went lower. Analysts believe that if the "National Security Law" regulations are implemented in Hong Kong, there will be a wave of divestments and shake Hong Kong's status as an international financial center.
After the CCP’s “two sessions” were postponed for more than two months this year, it opened in Beijing on May 21. The National Committee of the Chinese People's Political Consultative Conference held its first meeting on the 21st. Although the National People's Congress is scheduled to start on May 22, it also held a press conference after the preparatory meeting on the 21st to announce the agenda of the conference. The outside world noted that this year's National People's Congress has an agenda to discuss the issue of empowering the Standing Committee of the National People's Congress to enact legislation on the implementation of national security in Hong Kong.
A number of Hong Kong media quoted sources as they reported that the Hong Kong version of the "National Security Law" will include "prohibition of splitting the country", "subversion of the Central People's Government", "foreign interference" and "terrorism". At the same time, there is news that the "National Security Law of the Port Area" formulated by the Standing Committee of the Communist Party of China will be included in Annex III of the Basic Law.
It is understood that Article 18, paragraph 2, of the Basic Law of Hong Kong provides that “all laws listed in Annex III of this Law shall be promulgated locally or implemented by legislation in the Hong Kong Special Administrative Region”.
Once the Hong Kong version of the "National Security Law" is included in Annex III of the Basic Law, it means that the bill does not need to be consulted by the people of Hong Kong, or even need to be reviewed and approved by the Hong Kong Legislative Council, but can be directly implemented by the Hong Kong government.
At about 10 o'clock in the evening, Hong Kong's "Position News" reported that the news that the Chinese People's Congress would discuss the Hong Kong version of the "National Security Law" and that the bill might bypass the Hong Kong Legislative Council and was directly announced by the Hong Kong government. Public opinion is highly concerned. In the discussion area under the coverage of Hong Kong media, the number of interactions on related topics exceeded 120,000 times in just 3 hours (including sharing and message); the rough word index (MFI) of related messages on Facebook page ) Reached 20%.
According to reports, big data statistics show that after the news about the Hong Kong version of the "National Security Law" was seen in the media that afternoon, Hong Kong netizens searched for "National Security Law" and "immigration" in the search engine. The correlation (Correlation) was as high as 99% This means that the first response of the public to the "killed" National Security Law is immigration.
The report said that the trending moving average (TMA), which reflects the search volume of search engine keyword vocabulary, shows that the demand for news and information for the "national security law" and "immigration" has risen to a new high simultaneously on the afternoon of the 21st; According to the analysis, it can be seen that the general public is also searching for “immigration” while searching for “national security laws”. This is the "most direct response" made by the people of Hong Kong to the upcoming Hong Kong version of the National Security Law.
From the ASI big data analysis chart forwarded by the report, we can see that the correlation between Internet users ’search for“ national security law ”and“ immigration ”on the morning of May 21 is still quite low; The degree immediately soared and quickly reached more than 99%.
(A screenshot of the "Stand News" report.)
(Screenshot of "Standard News" report)
The following financial phenomena related to the Hong Kong version of the National Security Law are also worthy of public attention:
After the news that the Hong Kong version of the "National Security Law" may be included in the Hong Kong Basic Law, the Hong Kong dollar fell sharply at 5 pm on the same day, from 1 US dollar to 7.75 Hong Kong dollars to 7.7539, a range of 39 pips.
The 6-month forward of the Hong Kong exchange rate depreciated once by 100 pips, which was low at 7.774; the 12-month forward was depreciated by 179 pips, and low at 7.7936. The forward exchange rate reflects the market's expectations of future exchange rates.
Hong Kong's "Apple Daily" quoted an unnamed financial person as saying that although the exchange rate rose slightly after a sharp fall on the 21st, observations can be found that the time of the sharp decline of the exchange rate is related to the news of the National Security Law. The timing is exactly the same, and this phenomenon reflects the market's fear that Hong Kong society will return to turmoil.
The report also quoted Guan Zhuozhao, an economist and director of Guanyu Business and Economic Research Center, as saying that if the regulations of the Hong Kong version of the National Security Law are actually implemented, it will cause foreign investors to reexamine their business operations in Hong Kong. There has been a decrease in foreign investment in Hong Kong and even divestment.
Guan Zhuozhao pointed out that Hong Kong has become an international financial center because of its independent rule of law and democratic system. Once this prerequisite is lost, a wave of divestments will inevitably hit Hong Kong's status as an international financial center.
During the Hong Kong Anti-China Campaign, the well-known media person Jiang Feng once said in his program that if Beijing destroys Hong Kong's "one country, two systems", then the United States will not need to cancel the Hong Kong Relations Act, and the CCP itself will remove the special trade zone discounts.
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