Following the passage of a new security law for Hong Kong by the China’s National People’s Congress, finance workers in the region are seeking to organise a strike to protest against the legislation.
The Hong Kong Financial Industry Employees General Union (HKFU) is hoping to secure the support of at least 100,000 finance employees – nearly one-third of the industry’s workforce – by June 12 to start a strike.
HKFU chairman Kwok Ka-wing in a press briefing on Monday said, “The HKFU strongly hopes our action can stop this evil law and protect Hong Kong as an international finance centre.”
“We hope the employers of the financial industry understand we are fighting for justice and the industry, but not against them.”
He added that other measures will be considered if support is not achieved for the strike.
Efforts to strike have come as the national security law raised concerns over the financial hub’s basic freedoms and future autonomy.
The fresh political turmoil is also reviving worries over capital flight while the authorities have argued that there haven’t been noticeable fund outflows from either the Hong Kong dollar or banking system.
The pro-democracy HKFU was set up in September and has about 500 members across banks, securities firms and insurers in the city. More members have been joining the group since the security law was announced, he said.
Financial firms in Hong Kong have found it difficult to disentangle themselves from the political tensions since last year.
The city’s former chief executive, Mr. Leung Chun-ying, lambasted HSBC Holdings last Friday for not publicly voicing its support for the security law. (Source: The Straits Times)