HK ‘aligns’ listing requirements

Hong Kong half-follows Beijing by relaxing requirements that Mainland companies must mention China-related country, political or regulatory risk in their listing applications. (Non-paywalled CNN version. Exchange announcement. And an example of such a disclosure.)

Like the semi-emulation of the Mainland’s zero-Covid policy, this presumably wouldn’t have happened back in the days of a more rigorous One Country, Two Systems.

This means Hong Kong will be able to list Mainland companies that might not qualify in, say, New York. Some relevant background on the widening gap between China and the West on disclosure/due diligence.

Eric Lai of Georgetown Law in the Diplomat on the legal logic behind attempts to eradicate Glory to Hong Kong

…an injunction order, as a civil proceeding, carries a lower threshold of proof than criminal law, which requires proof beyond a reasonable doubt. In short, it is easier for the authorities, particularly the DOJ, to use laws and courts to achieve what they want via an injunction order.

Another reason might be more pragmatic: The government tried to use the fame of the civil court to pressure tech giants, such as Google, which has operations in Hong Kong, to comply with the order. Despite the widespread, intensive criticisms against the NSL and the criminal court of Hong Kong, there remains a popular narrative that Hong Kong’s court can still handle civil and commercial cases independently and robustly. Business enterprises in Hong Kong still trust the local civil court. Against this background, using civil proceedings instead of the criminal justice system or the NSL would make the business community less able to disapprove the decision as an outcome of enforcing the problematic NSL or other draconian laws

Welcome to Marlboro country? It’s in their jeans? The Hong Kong government goes casual denim

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Apologies to anyone offended by yesterday’s comparison of a female pro-Beijing heavyweight to a whale. An especially big sorry to cetaceans who, I hear, felt particularly insulted.

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13 Responses to HK ‘aligns’ listing requirements

  1. Mark Bradley says:

    I wonder how the Glory to HK injunction ruling will do in appeals.

  2. Chinese Netizen says:

    No amount of dressing down will make a group of twats appear any less twat like.

  3. Nury Vibbrachi says:

    The attempts to make the Transcommunist government officials cuddly, warm and stylish are doomed to failure.

    Quite frankly, you can’t polish a turd.

    How should a Transcommunist dress? Clearly, silk Mao suit tailored by Shanghai Tang or somewhere similarly tasteless, darlings. Mauve is best. Until they can run you up a Mao suit however and for those casual photo shoots a “SCARY TRANS PERSON THE MEDIA WARNED YOU ABOUT” T-shirt would be fine.


  4. reductio says:

    From Claire Chu’s Tweet (or whatever it is called now): “The PRC system is based on written statutes, and prior court decisions can only be sited as references”.

    And there, ladies and gentlemen, you have it.

  5. Fish says:

    We all know that the intense consumer interest in western blue jeans was no small influence in East Germany and some have even traced the fall of the USSR back to a desire for denim, Gorky Park, Nena, and bad Scorpions ballads. Just sayin.

  6. Mark Bradley says:


    How does this compare with legitimate legal systems in Europe that practice civil law / continental law?

  7. Boris Badanov says:

    Fascism in business casual is still fascism

  8. wmjp says:

    Brown-shoe bigfoot on the far left is, appropriately, Mr Plod.

  9. Mary Melville says:

    Note that in these group pics the women are always shunted to the back, despite some being on the short side. Lets not go into the guys sitting while ladies stand aspect.
    While the stools may be a display of seniority, if that is the Dy Sec for Injustice on the front left – my sight not great – and Michael Wong on the left, this is not proper etiquette as some of the ladies are bureau heads.
    No doubt an indication that women will be gradually shunted to the sidelines and encouraged to recognize that their main purpose is to make babies, for the older ones stay home to baby sit the grand kids.

  10. Stanley Lieber says:

    It’s still a uniform, FFS.

  11. reductio says:

    @Mark Bradley

    I’m not a legal expert but I’d think that Germany et al have very detailed legal statutes whereas the Chinese system is big on generalities that you could ride a CCP bus through. Willing to be proved wrong though. Anybody out there know much about this?

  12. Joe Blow says:

    I am surprised they are not all wearing “I Love HK” T-shirts from Ladies Market while John “Charisma” Lee high-fives that gelatinous rice ball who plays the Secretary of Injustice.

    I am nauseous now.

  13. Joe Blow says:

    I think that should be “glutinous rice ball”.

    *retching violently*

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