Monday, 29 June 2020

Bali Breaking News - China passes sweeping Hong Kong nationwide safety regulation- May Affect H.K. Real Estate Prices

Editor's Comments:
Editor Lawrence - President, Director, Bali Realtor, Developer
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Editor's comments: I can't see any way that this new law which was just passed and in essence allows China to take complete control over Hong Kong will not affect Hong Kong real estate prices.

If I had a family and was living in Hong Kong I would be looking for greener pastures.

And there's no greener pasture than Bali right now with prices down 20% to 30% and selling at 70 to 80% less than the same size & quality of property in Hong Kong with great potential and no stringent restrictive government.
Get ready for influx of Hong Kong investors into Bali Singapore Thailand etc.

by Cory Weinberg June 30, 2020 Top News

Beijing’s best lawmaking human body, the Nationwide People’s Congress (NPC), handed the regulation unanimously on Tuesday early morning nearby time, bypassing Hong Kong’s legislature, by means of a rarely utilised constitutional backdoor, in accordance to Hong Kong community broadcaster RTHK, citing unnamed resources.

Chinese state-operate Xinhua news company beforehand noted the regulation would criminalize offenses these kinds of as secession, subversion versus the central Chinese authorities, terrorism, and colluding with overseas forces.

A draft of the law had not been produced community ahead of its passage, this means the greater part of people in Hong Kong have not seen particulars of a legislation that will now govern their lives.

The passing of the regulation has not been officially verified and facts remain unclear. But RTHK reviews that achievable utmost sentencing for crimes underneath the legislation will be “much larger” than 10 a long time imprisonment.

Hong Kong’s Chief Executive Carrie Lam refused to comment on the development of the monthly bill in her weekly press convention on Tuesday morning, declaring it would be “inappropriate” to respond to questions although the NPC assembly is continue to in progress.

The laws was widely criticized by opposition lawmakers in Hong Kong, human legal rights teams and politicians globally, with a lot of expressing the legislation will cement Beijing’s immediate command over the semi-autonomous metropolis. Quite a few fear the legislation could be made use of to goal political dissidents, a dread that stems from China’s judicial monitor record.

The passing of the regulation will come a day in advance of July 1, the anniversary of Hong Kong’s handover from British colonial rule to China in 1997. It has turn into an yearly working day of protests in the metropolis, but for the 1st time considering the fact that handover law enforcement have not presented permission to protesters to maintain tranquil demonstrations.

This is a developing tale

About the author: Cory Weinberg
Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.
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