The U.S. Treasury announced previously that new regulations restricting U.S. investments in advanced technology fields such as artificial intelligence (AI) in China are ready to take effect on January 2 next year.
Chief Executive John Lee said at a press conference today (Oct. 29) that this action is a move by U.S. politicians to serve their own political interests, undermining normal investment, which not only harms the global supply chain but also damages U.S. interests.
Lee further pointed out that over the past decade, there has been a significant trade imbalance between the Hong Kong Special Administrative Region and the United States, with the U.S. profiting US$472 billion from it.
"U.S. politicians, in pursuit of political goals, are harming both others and their own nation's, citizens', and businesses' interests, and they will face the consequences of their actions."
According to Lee, the SAR government will defend its interests while protecting the interests of Hong Kong businesses and will stand together with the country to safeguard national interests.
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