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About: Timeline of reactions to the Hong Kong national security law (May 2021)     Goto   Sponge   NotDistinct   Permalink

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On 14 May, authorities froze the assets of pro-democracy media tycoon Jimmy Lai. This was the first time that the pertaining provision in Article 43 of the national security law was applied. While Chief Executive Carrie Lam said on 18 May that the move would serve to bolster the status of Hong Kong as an international financial hub, several senior bankers and corporate lawyers not associated with Lai's accounts opined that the action – which was followed at the end of the month by a warning from the Security Secretary to banks against dealing with the frozen assets – was exposing risks for clients and top financial managers in Hong Kong.