Trade relations are a two-way street and any unilateral changes in US policy towards Hong Kong would hurt bilateral relations, Secretary for Commerce & Economic Development Edward Yau said today.

Mr Yau made the remarks while responding to press enquiries about possible changes in US policy concerning the special status it granted to Hong Kong on trade and other issues amid concerns over the national security law.

He said: “The special trading status that Hong Kong enjoys is part and parcel of the ‘one country, two systems’ because this provision has been given to Hong Kong by the Basic Law.

“It is not a gift given unilaterally by any trading partner. In fact, it is also recognised multilaterally throughout the world, through our multilateral trading relations as well as our membership under the World Trade Organization.”

Mr Yau also refuted the US Secretary of State’s recent remarks about Hong Kong and reiterated that the national security law is needed.

“We take exception to the US policy recently announced by their Secretary of State towards Hong Kong, because it gives no regards to Hong Kong’s constant upholding of ‘one country, two systems’.”

He cautioned that Hong Kong will not be the only party to suffer should the US unilaterally change its policy.

“It is hypocritical to say on the one hand that you stand by or support the people of Hong Kong, but on the other hand what the US Government is trying to do would intend to harm Hong Kong’s interests.

“It is also self-kidding to say that this would only harm one side of the equation. Actually, trading relations is a two-way street. So our reaction and our forecast is that it would hurt the bilateral relations between Hong Kong and the US.

“We have been suffering from the collateral damage of the US-China trade tension, and I believe this would also harm further the US’ interest in Hong Kong, which we have all along considered it as a mutual benefit.”