Yana BermanHong Kong’s Hang Seng Index has soared as the city’s leader Carrie Lam revoked a controversial extradition bill on Wednesday, Sept. 4, Business Insider reports.
According to South China Morning Post, after several months of violent clashes, Hong Kong’s leader held a meeting with pro-establishment allies and officials, where she announced her decision.
The extradition bill, introduced by Hong Kong in April 2019, implied mutual legal assistance between the city and mainland China. Hong Kong residents, outraged by the possibility of standing before Communist-party controlled courts on the mainland instead of the independent courts in the territory, went to the streets to oppose the bill.
Later Carrie Lam suspended the bill, but the attempt to pause the protests failed. The activists kept insisting that the bill still existed on the legislative agenda, therefore, the officials could get back to it at any time.
The clashes reached its peak in August, when protesters occupied the main building of Hong Kong’s Airport, forcing the authorities to cancel dozens of flights.
