Companies Consider Excluding Hong Kong From Legal Contracts: FT

(Bloomberg) — International companies operating in Asia are considering leaving Hong Kong out of legal contracts amid concerns about China’s growing control, the Financial Times reported, citing people it didn’t identify.

© Bloomberg
Tourists look at the city’s skyline from a viewing terrace on Victoria Peak at night in Hong Kong, China, on Wednesday, Aug. 28, 2019. Hong Kong’s hotel industry is struggling with a collapse in bookings after thousands of protesters shut down flights from the territory’s airport in an escalation of months of clashes with police.

Lawyers in the region have received a surge of queries from clients about excluding Hong Kong from governing law and arbitration clauses when conducting business there or entering into joint ventures, the newspaper said. Such clauses determine the national laws that apply to companies’ agreements. The clients are mostly based in the U.S. and Japan.

© Bloomberg
Tourists look at the city’s skyline from a viewing terrace on Victoria Peak at night in Hong Kong, China, on Wednesday, Aug. 28, 2019. Hong Kong’s hotel industry is struggling with a collapse in bookings after thousands of protesters shut down flights from the territory’s airport in an escalation of months of clashes with police.

For more articles like this, please visit us at bloomberg.com

©2021 Bloomberg L.P.