Hong Kong warns US to stop interfering; calls withdrawing special US status double-edged sword

Hing Kong's government has asked the US to stop interfering in its internal matters. It also warned the US governmentthat withdrawing its special US status could be a "double-edged sword". The special US status hasunderpinned the city as a global financial hub.

"Any sanctions are a double-edged sword that will not only harm the interests of Hong Kong but also significantly those of the US," Hong Kong government said late on Thursday.

The statement has been released a day before theUS President Donald Trump is due to announce laterhis response to the Chinese parliament's new security laws for Hong Kong.

The new security legislation approved by the Chinese government has faced a lot of backlash and critique from democracy activists and western countries, who claim that the law could erode the city's freedoms.

It also pointed outthat the US trade surplus with Hong Kong was the biggest among all its trading partners between 2009 to 2018, and totaled to roughly$297 billion of merchandise, with1,300 US firms office addresses in Hong Kong.

Beijing says the new legislation will tackle secession, subversion, terrorism and foreign interference in the city. It could see Chinese intelligence agencies set up bases there.

(With inputs from Reuters)