“Eradicating the ability to attach tools to or set up program in CCS as that is more likely to have a chilling impact on know-how funding and Hong Kong digital financial system, which is able to undermine belief in service suppliers who function in Hong Kong,” Dr. Eden Wooden, president of AmCham wrote within the letter.
The HKGCC has raised related considerations asking the authorities to rethink the proposed laws and to not “impose unduly burdensome or disproportionate compliance prices” to companies given the present financial local weather.
“Given the enterprise impression of the proposed legislation, we recommend that concerns be given to the introduction of balanced and proportionate laws, which is precept and risk-based, technology-neutral, and aligned with internationally acknowledged requirements, in order to advertise stakeholder belief and assist the town’s innovation and know-how developments,” Patrick Yeung, CEO at HKGCC wrote in a letter dated 12 August.
