The Hong Kong Special Administrative Region Government today criticised the US for a series of measures unreasonably targeting Hong Kong that undermine and cause damage to normal trade and investment activities.

The Hong Kong SAR Government expressed its strong objection and disapproval of the US measure restricting investment in China.

The US was Mainland China's largest trading partner and the third largest trading partner of Hong Kong in 2002, with trade value amounting to US$759.4 billion and US$64.1 billion respectively.

Mainland China and Hong Kong are respectively the third and 29th largest trading partners of the US. As at end-2021, the US ranked sixth for inward direct investment into Hong Kong with an investment stock of US$45.6 billion.

The US also ranked ninth for outward direct investment from Hong Kong with an investment stock of US$17.8 billion.

The statement noted that these figures demonstrate the close economic interaction between Hong Kong and the US as well as the vast business interests of US businesses in Hong Kong.

The unreasonable and restrictive measure on investment seriously violates the principles of market economy and fair competition, undermines international economic and trade order and jeopardises the economic and business interests of US businesses and the US.

It also creates further uncertainties for global economic recovery and growth. The US should withdraw the unreasonable measure concerned, the statement added.

The Hong Kong SAR Government is closely monitoring the developments and will resolutely safeguard Hong Kong's rights and interests.