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Sino-U.S. relations are bad. According to the Hong Kong Autonomy Law signed by US President Trump, the U.S. Treasury Department announced sanctions against 11 Chinese and Hong Kong officials last Friday, including Hong Kong Chief Executive Carrie Lam.

The bill came into effect immediately, prohibiting named officials from entering the United States and freezing their assets in the United States. What's more, the bill also restricts all financial institutions from doing business with people on the list.

Many officials on the sanctions list said they were not afraid of sanctions. Earlier, the Hong Kong Monetary Authority also issued a statement to its supervised institutions in response to the US sanctions plan, saying that foreign governments unilaterally imposed sanctions,

It is not part of the international targeted financial sanctions system adopted by the United Nations and has no legal effect in Hong Kong. However, it is the bank itself that opens the door to do business. If it really ignores the sanctions scheme, it will eventually be implicated and punished by the United States.

Being fined or even stopping the bank's business in the United States will not set fire to itself. The most paradoxical thing is that if banks in Hong Kong follow the direction targeted by the United States and cooperate with sanctions against these people, they may be suspected of treason and may violate the national security law.

By then, the property will be confiscated, and the loss may be more serious. Banks can be said to be pigs looking in the mirror now, not people inside and outside! But perhaps this is exactly what the United States is trying to do, opening up psychological warfare before the financial war.

However, it has been reported that American-funded banks in Hong Kong are taking measures to actively contact some sanctioned persons in the hope that the other party can actively close their bank accounts. There are also Chinese banks that are studying the risks they will face and their own affordability.

Looking at the enterprise laws and regulations, we are also seeking legal advice and evaluating the measures that need to be taken, which shows that they will not completely ignore sanctions. China imposed the same sanctions against the US sanctions plan yesterday.

The announced sanctions include 11 American people, including Senator Lu Biao and Cruz, in retaliation for the US sanctions against Beijing and Hong Kong officials for safeguarding national security. However, the Chinese Foreign Ministry did not mention any specific form to sanction the 11 Americans.

Interestingly, Lu Biao and Cruz were named and sanctioned by the Chinese side for the second time within one month, and the first time was due to Xinjiang Autonomy. US Health Secretary Aza led a delegation to visit Taiwan for three days since yesterday.

Since 1979, the highest-ranking US official has visited Taiwan. Although Aza was interviewed before leaving, stressing that the purpose of this trip is only related to public health issues, this high-style move is often mentioned in China under the principle of adhering to the one-China principle.

It is tantamount to provoking a dispute, and China is naturally angry and protesting. Yesterday, investors still focused on the development of the US fiscal stimulus plan, but it was expected to pass. Optimism pushed up the US dollar, and the gold price dropped by US$ 8 to close at US$ 2,027 per ounce. It is expected that gold has entered an adjustment period.

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