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“We recognise China’s role in the world but it should live up to its responsibilities,” British Foreign Secretary Dominic Raab said in a statement on Hong Kong Tuesday. “There is time for China to reconsider and step back from the brink.”

Additional takeaways

“Hong Kong’s success was built on freedom.”

The UK has respected the joint declaration on Hong Kong.”

“The national security law undermines one country, two systems.”

“Imposition of national security law by China is a direct conflict of China’s international obligations.”

“We oppose such an authoritarian security law.”

“If China continues down this path, we shall consider our response.”

“If China enacts this law we will change arrangements for BNO holders.”

“The UK will not look the other way if China continues down this path.”

“Actions of China are putting at risk one of the jewels in the crown of China.”

Market reaction

The UK’s FTSE 100 Index retreated slightly from session highs and was last seen gaining 0.98% on the day at 6,227 points.