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Hong Kong officials say Trump 'completely wrong' to end city's special status

US President Donald Trump said his administration would be looking into the practices of Chinese comapnies listed on US exchanges of which there are around 156

President Trump announced Friday that the "terminating" its relationship with the World Health Organization over its failure to enact reforms in response to the administration's criticisms of its handling of the coronavirus pandemic.

The American Chamber of Commerce in Hong Kong said Saturday marked "a sad day" for China's freest city.

The move comes as China's parliament recently approved a controversial national security law for Hong Kong, which is receiving USA backlash.

"We fully support the measures taken by the Party and government of China for safeguarding the sovereignty, security and territorial integrity of the country and achieving stability and prosperity of Hong Kong based on the policy of 'one country, two systems, '" the spokesperson said.

In 1997 when British handed over Hong Kong to China, the territory has been governed under "one country, two systems" and under 1984 joint British-China declaration high degree of autonomy will be given to Hong Kong for 50 years after the handover. The first of four announcements was revoking Hong Kong's special status, as he says.

China passed the Hong Kong national security law after stiff public opposition scuppered a previous attempt by the territory's legislature to pass such legislation in 2003.

Trump said his decision would "affect the full range of agreements, from our extradition treaty to our export controls on dual-use technologies and more, with few exceptions".

Trump also said he would break ties to WHO.

Dr. Tom Frieden, former head of the U.S. Centers for Disease Control and Prevention, notes: "The United States helped create the World Health Organization".

Trump also mentioned that he was terminating the U.S. relationship with the World Health Organization, which he has accused of pro-China bias in its management of the coronavirus crisis.

Cutting off US funding would deal a heavy blow to the WHO. The US is the largest contributor to the World Health Organization - making up about 15 per cent of the organisation's total funding.

Trump said the USA would be "redirecting" the money to "other worldwide and deserving urgent global public health needs", without providing specifics.

- USA officials and people familiar with the discussions said the administration was crafting a range of options, including targeted sanctions, new tariffs and further restrictions on Chinese companies.

Back then, India had also asked China and Pakistan not to raise internal matter Kashmir at the world body.

He noted that the USA contributes about $450 million United States to the world body while China provides about $40 million.

Trump has become less enthusiastic about the significance of the so-called phase one deal as the coronavirus pandemic devastates the USA economy, triggering concerns that he may seek to terminate the hard-fought accord.