US Treasury Secretary Steven Mnuchin said on Thursday he was working on various capital markets responses to China’s Hong Kong Security law, including some measures that could restrict capital flows through the territory.
Speaking to reporters on a video call, Mnuchin said his primary focus in the US response to China’s Hong Kong clampdown was through the President’s Working Group on Capital Markets, an interagency group of US financial regulators.
President Donald Trump ordered the Treasury-led group last week to recommend in 60 days actions to protect US investors from Chinese companies’ failure to adhere to US accounting standards and disclosure
rules.
Asked if Treasury was considering measures that could restrict flows of US capital through the Hong Kong market, he said: “We are -- I don’t want to prejudge what the report will be, but we will come back with a variety of recommendations.”

US may restrict capital flows through Hong Kong: Mnuchin
Demonstrators march during a protest on the first anniversary of a mass protest against the now-withdrawn extradition bill, in Hong Kong's Central district, on June 9, 2020. (Reuters)
Reuters, Washington
Friday 12 June 2020
Last Update: Friday, 12 June 2020 KSA 04:13 - GMT 01:13
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