FedEx to relocate its Asia headquarters from Hong Kong to Singapore

FedEx Corp, one of the three biggest express parcel shipping companies, reportedly is moving its APAC regional headquarters from Hong Kong to Singapore to achieve “greater speed and agility.”

Kawal Preet, regional president of FedEx Express, will be relocated to Singapore, Bloomberg reported, citing an unnamed staff member; some other Hong Kong-based executives will move to Singapore in September.

Probed by the Chinese government in 2019 for holding back Huawei Technologies' parcels may be a factor in the US courier’s relocation of its regional headquarters.

Although Hong Kong ended all its anti-epidemic rules in late 2022, deteriorating US-China relations continue to create operational risks to Hong Kong-based foreign companies, said some commentators.

In February of this year, the US sanctioned five Chinese firms, including one in Hong Kong, for allegedly providing services and products to the Russian military. Last month, it sanctioned 12 Chinese firms, mostly based in Shenzhen, for shipping electronic parts through Hong Kong to Russia.

Besides, Chief Executive John Lee said in January that Hong Kong will pass additional national security legislation, under the requirement of the Basic Law’s Article 23, by the end of 2024.

The current National Security Law covers offenses including secession, terrorism, subversion against the central government and collusion with foreign powers. The new legislation will target treason, sedition and theft of state secrets, as well as spying activities.

聯邦快遞將其亞洲總部從香港遷至新加坡

據報導，三大快遞包裹運輸公司之一聯邦快遞公司正在將其亞太地區總部從香港遷至新加坡，以實現“更快的速度和靈活性”。 彭博社援引一位不願透露姓名的工作人員的話報導稱，聯邦快遞區域總裁 Kawal Preet 將調往新加坡；其他一些駐香港的高管將於 9 月搬到新加坡。 2019 年因扣留華為技術公司的包裹而被中國政府調查可能是這家美國快遞公司搬遷其地區總部的一個因素。 一些評論員表示，儘管香港在 2022 年底結束了所有防疫規定，但美中關係惡化繼續給駐港外國公司帶來經營風險。 今年 2 月，美國製裁了五家中國公司，其中一家在香港，因為它們涉嫌向俄羅斯軍方提供服務和產品。上個月，它制裁了 12 家主要位於深圳的中國公司，因為它們通過香港向俄羅斯運送電子零件。 此外，行政長官李家超在 1 月份表示，香港將根據《基本法》第 23 條的要求，在 2024 年底前通過額外的國家安全立法。 現行的國家安全法涵蓋的罪行包括分裂國家、恐怖主義、顛覆中央政府和勾結外國勢力。新立法將針對叛國罪、煽動叛亂罪、竊取國家機密罪以及間諜活動。