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US-China tensions

Biden to warn US companies of risks of operating in Hong Kong

President plans more China sanctions in response to crackdown and Xinjiang

The Biden administration will warn US companies of the increasing risks of operating in Hong Kong.   © Reuters

WASHINGTON/HONG KONG (Financial Times) -- The Biden administration will this week warn US companies of the increasing risks of operating in Hong Kong as China asserts greater control over the financial hub.

According to three people familiar with the message, those threats include the Chinese government's ability to gain access to data that foreign companies store in Hong Kong and a new law that allows Beijing to impose sanctions against anyone that enables foreign penalties to be implemented against Chinese groups and officials.

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