financetom
Economy
financetom
/
Economy
/
Hong Kong leader to address city amid fury at bill allowing extraditions to China
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Hong Kong leader to address city amid fury at bill allowing extraditions to China
Jun 18, 2019 4:26 AM

Embattled Hong Kong leader Carrie Lam will address the city on Tuesday after some of the biggest and most violent protests seen in the financial hub against an extradition bill that she postponed in a stark reversal of policy.

The bill would allow a case by case extraditions to mainland China and despite its postponement, around two million people spilled on to the streets on Sunday, demanding Lam step down and scrap the bill entirely.

Lam's climbdown, with the approval of China's Communist Party leaders, was the biggest policy reversal since the former British colony returned to Chinese rule in 1997 and presented a new challenge for Chinese President Xi Jinping who has ruled with an iron fist since taking power in 2012.

Many accuse China, where the courts are strictly controlled by the Communist Party, of extensive meddling since the handover, with the extradition proposals a further example.

Lam hasn't appeared publicly since the Sunday protests that were the largest in the city for decades.

Since the proposed amendments to the Fugitives Offenders' Ordinance was first put to the legislature in February, Lam has repeatedly rebuffed concerns voiced in many quarters, including business groups, lawyers, judges, and foreign governments against the bill.

Critics say the bill would undermine Hong Kong's rule of law, guaranteed by the "one country, two systems" formula, under which Hong Kong returned to China, by extending China's reach into the city, and allow individuals to be arbitrarily sent back to China where they couldn't be guaranteed a fair trial.

Lam issued an apology on Sunday night through a written government statement that many people said lacked sincerity. It failed to pacify many marchers who said they no longer trusted her and doubted her ability to govern.

Lam, a career civil-servant known as "the fighter" for her straight-shooting and tough leadership style, took office two years ago pledging to heal a divided society. Some observers say she is unlikely to step down immediately but any longer-term political ambitions she may have harboured are now all but dead.

Many protest organisers say they will continue to hold street demonstrations until Lam scraps the bill, fearing that authorities may seek to revive the legislation in future when the public mood is calmer.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Analysis-US government shutdown may prompt first-ever workaround for inflation-protected bonds
Analysis-US government shutdown may prompt first-ever workaround for inflation-protected bonds
Oct 29, 2025
NEW YORK (Reuters) -With the U.S. government shutdown threatening to freeze October's inflation report, the Treasury is expected to deploy a workaround to compute the index underpinning the $2.1 trillion market for inflation-protected bonds for the first time since their 1997 launch, a move that may cause pricing quirks as traders adjust their calculations. The Bureau of Labor Statistics has...
Fed's Standing Repo Facility hits record high as policy meeting outcome looms
Fed's Standing Repo Facility hits record high as policy meeting outcome looms
Oct 29, 2025
NEW YORK (Reuters) -The Federal Reserve's Standing Repo Facility on Wednesday recorded the highest level of usage since its launch in 2021, as central bankers are widely expected to announce an end to their balance sheet drawdown. Eligible financial firms took slightly over $10 billion in loans from the facility, widely known as the SRF. Collateralizing that borrowing was $2...
Looming Trump-Xi meeting revives hope of US-China trade truce
Looming Trump-Xi meeting revives hope of US-China trade truce
Oct 29, 2025
BUSAN, South Korea (Reuters) -As U.S. President Donald Trump and China's leader Xi Jinping prepare to kick off talks on Thursday, U.S. negotiators have signaled they seek a return to a fragile trade war truce, but tensions remain high and longer-term economic irritants will likely persist between the geopolitical rivals. Trump has repeatedly expressed optimism about reaching a deal when he...
US pending home sales unexpectedly flat in September despite lower mortgage rates
US pending home sales unexpectedly flat in September despite lower mortgage rates
Oct 29, 2025
WASHINGTON (Reuters) -Contracts to purchase previously owned U.S. homes were unexpectedly unchanged in September, likely as worries about the labor market kept prospective buyers on the sidelines despite declining mortgage rates. The flat reading in pending home sales last month, which was reported by the National Association of Realtors on Wednesday, followed an upwardly revised 4.2% increase in August. Economists...
Copyright 2023-2025 - www.financetom.com All Rights Reserved