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US lets Hong Kong-related state of emergency lapse, easing sanctions
The move effectively lifts sanctions on nine mainland Chinese and Hong Kong officials, according to a US-related decision described by the report.
The US government’s decision not to extend Hong Kong-related state of emergency measures has led to the effective lifting of sanctions on nine mainland Chinese and Hong Kong officials, the SCMP Economy reports.
At a Ministry of Commerce press briefing, a spokesman described the action as an important step toward fulfilling the consensus reached in negotiations.
The outlet links the development to broader efforts to stabilize US and China relations following Donald Trump’s May visit to China, and ahead of Chinese President Xi Jinping’s expected reciprocal visit to the United States this September.
SCMP Economy also notes that some cautioned against reading too much into the sanctions change, pointing to what it describes as a continuing pattern of controlled decoupling, with each side aiming to insulate sensitive technology spheres from the other.