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Bernard Spragg. NZ via flickr
"Google, Amazon Web Services and Microsoft refused to agree to an offer that would allow Hong Kong regulators to access customer banking data," the publication said.
According to the newspaper, since last year the companies have been negotiating with the Securities and Futures Commission (SFC) of Hong Kong to provide access to financial data of customers on their cloud platforms. However, the situation got worse when China approved Hong Kong's national security law in late June.
“Companies are wary of possible restrictions on the part of US lawmakers, who are increasingly cautious about the deals of American companies with China,” the publication quoted the source as saying. Earlier, there was some likelihood of signing such an agreement, but it has become impossible now, the source added.
Hong Kong's National Security Protection Act, approved by the Chinese parliament, entered into force on June 30. The law outlines rules for the prevention, suppression and punishment of four types of crimes committed in Hong Kong, including separatist activities, attempts to undermine state power, terrorist activities, conspiring with foreign states or forces located abroad in order to jeopardize national security.
source: ft.com
According to the newspaper, since last year the companies have been negotiating with the Securities and Futures Commission (SFC) of Hong Kong to provide access to financial data of customers on their cloud platforms. However, the situation got worse when China approved Hong Kong's national security law in late June.
“Companies are wary of possible restrictions on the part of US lawmakers, who are increasingly cautious about the deals of American companies with China,” the publication quoted the source as saying. Earlier, there was some likelihood of signing such an agreement, but it has become impossible now, the source added.
Hong Kong's National Security Protection Act, approved by the Chinese parliament, entered into force on June 30. The law outlines rules for the prevention, suppression and punishment of four types of crimes committed in Hong Kong, including separatist activities, attempts to undermine state power, terrorist activities, conspiring with foreign states or forces located abroad in order to jeopardize national security.
source: ft.com
