The Ministry of Commerce (MOC) called the move “an important step in implementing the consensus reached during China-US economic and trade consultations” in Madrid last year.
During those talks, Washington made commitments on issues including the SAR and investment.
A spokesperson from the MOC said the US recently confirmed that the emergency will not be extended after it is expires in 2026.
An executive order, which declared the emergency back in July 2020 will be terminated, it added.
The SAR government for their part, said the decision is an important step towards fulfilling the consensus reached during China-US economic and trade consultations.
A spokesman added that safeguarding Hong Kong’s prosperity and stability is in the shared interests of China and the US.
It also aligns with the broader expectations of the international community, he added.
The spokesman added he hopes the US will respect China’s sovereignty and the SAR’s rule of law, and resume and step up usual trade relations with Hong Kong.
(Additional reporting by Xinhua/Reuters)
