Financier and venture capitalist Simon Calton is watching closely how China implements its new national security legislation for Hong Kong, as the impending controversial changes could raise uncertainty that would translate into higher investment costs.

Calton has long been a strong supporter of investing in Hong Kong, a city he sees as serving as a gateway to huge Chinese investment opportunities, especially in the 5G and blockchain sectors, along with projects associated with the nation’s Belt and Road Initiative.

But with China’s National People’s Congress set to approve a motion to amend Hong Kong’s Basic Law, the city’s mini-constitution, to include national security legislation on Thursday, Calton is left with an uneasy feeling of uncertainty.

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