The US government owns billions of dollars property in Hong Kong. Will it be impacted by tensions with China?

This appeared in The Millennial Source

According to reports, the United States government owns a portfolio of HK$41 billion (approximately US$5.2 billion) in Hong Kong property, including its Consulate-General office which alone is valued at HK$24.7 billion (approximately US$3.2 billion).

However, with the introduction of the city’s controversial National Security law earlier this month, which some Western governments around the world say is repressive, tensions between the US and China are on the rise.

American businesses in Hong Kong are reacting to the situation with some level of concern. In a recent survey conducted by the American Chamber of Commerce, 76% of respondents (out of 183 companies in total) said they were “somewhat” or “extremely” concerned about the new legislation.

While 65% said the law would not impact their plans to stay in the city, a significant percentage of American businesses (35%) said they would consider relocating capital, assets or operations out of Hong Kong.

As for the property market, reports indicate that developers are trying to target Hong Kong investors who might wish to move assets abroad by increasing social media ads…