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The US Government Has Sold Real Estate In Hong Kong For $330 Million

The US Government Has Sold Real Estate In Hong Kong For $330 Million

The US government has sold real estate in Hong Kong for HK$2.56 billion ($330 million) amid strained relations with China, according to the South China Morning Post.

We are talking about a plot of land with several mansions for 26 apartments, located in a prestigious area on Shawson hill near the beach area in the southern part of Hong Kong island. The US State Department purchased the property there for its consular staff in 1948 when Hong Kong was a British colony.

The buyer was the development company Hang Lung Properties. According to experts, she purchased this land at a price much lower than the market. "It is very strange that the US agreed to sell for such a price," the newspaper quoted one of the local realtors as saying.

The US State Department has put its property in Hong Kong up for sale amid tensions with China over Beijing's adoption of national security law in the special administrative region. Washington perceived this legal action as a violation of Hong Kong's autonomy and responded with sanctions. However, the representative of the US Consulate General claims that the decision to sell the land is due to purely commercial considerations.

The white house has taken several sanctions measures against China and this special administrative region, after the adoption of the national security law in Hong Kong by the Chinese Parliament on June 30. The law is aimed at preventing crimes such as separatism, terrorism, Subversion of state power, and collusion with foreign forces, and provides for life imprisonment as the capital punishment.

On August 7, the US Treasury announced additional sanctions against 11 former and current officials of China and Hong Kong, including the Chief Executive of this special administrative region of China, Carrie Lam, for involvement in "undermining the autonomy of Hong Kong."

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