21.04.2023
Professor Julien Chaisse, an associate member of CCCL, weighed in on the challenge facing Hong Kong to maintain its reputation as a responsible trading partner while still being business-friendly. In light of recent news on Hong Kong's role in the Russian chip trade, experts suggest that the ease of setting up companies in Hong Kong has made it easier to evade sanctions. However, shipping chips to Russia from Hong Kong requires careful examination of export controls and regulations in place. Professor Julien Chaisse explained that to establish the legality of these shipments is a complex exercise, as several factors must be considered. First, a thorough review of Hong Kong's export control regulations is necessary to determine whether shipments are compliant. Second, Hong Kong is expected to uphold and enforce international sanctions against Russia, which includes restricting the export of goods and technologies that could contribute to Russia's military capabilities. Finally, the legality of shipments also depends on the extent to which the involved (private) companies adhere to both Hong Kong's export controls and international sanctions.
Read the full article here: Cissy Zhou and Kenji Kawase, How business-friendly Hong Kong became a hub of Russian chip trade, The Nikkei, April 21, 2023 < https://asia.nikkei.com/Business/Business-Spotlight/How-business-friendly-Hong-Kong-became-a-hub-of-Russian-chip-trade >
