Hong Kong Extradition Bill Gone?

It has been formally announced by Hong Kong’s legislature that the extradition bill, which sparked protests attracting hundreds of thousands of people over the past months, has been scrapped.

Its protests began in June against the possibility of proposals to allow extradition to mainland China. This put, what some deemed, Hong Kong’s judicial independence at stake. Non-conformists were also put on edge to the heightened possibility of their own endangerment.

Demonstrations were used as a way to fight for an investigation into Hong Kong policing and a call for greater democracy.

However, today the controversial bill has been formally withdrawn. Nevertheless, this has not stopped the momentum on the democracy debacle which has spiraled as a development from this political frenzy. The initial protests provoked a zeitgeist of pro-democracy debate within Hong Kong, with a hope to further establish the nation as fully democratic. Thus, regular protest demonstrations still continue. 

Therefore, businesses have been tentative in its confidence within Hong Kong as its legislative state remains vulnerable in its position of sparking protest. This has led some businesses to seek out safe havens such as Singapore. Both Hong Kong and Singapore have been in competition regarding capital and status within the business world. 

Hopefully, with the extradition bill legally scrapped, Hong Kong can begin to move into a more optimistic future to help maintain its status as a thriving hub for business, despite its recent milieu of protest.