U.S. Commerce chief: Firms may rethink Hong Kong offices after China security law

·1 min read
2020 World Economic Forum in Davos
2020 World Economic Forum in Davos

WASHINGTON (Reuters) - Companies with headquarters in Hong Kong may now rethink having those offices as China begins cracking down on protesters under Beijing's sweeping new security law, the U.S. commerce secretary said on Wednesday.

"I believe that there's a good chance that all companies who have Hong Kong as their headquarters for Asia will begin rethink whether the new rules - the new relationship between Hong Kong and mainland China - whether those rules let Hong Kong be as favorable a place to have headquarters as it used to be," Wilbur Ross told Fox Business Network in an interview.

(Reporting by Susan Heavey; Editing by Andrew Heavens)