Eden Woon, a U.S. citizen who is president of the Asian Institute of Technology (and who also happens to be fluent in both Mandarin and Cantonese), will succeed Tara Joseph as president of the American Chamber of Commerce in Hong Kong, AmCham HK has announced.

The change will take place on Sept. 1, when Joseph's five year term is set to end, the organization said in a statement.

Wendy R. Sherman, the U.S. Deputy Secretary of State, is to meet with officials from the People's Republic of China over the next few days, "to advance U.S. interests and values and to responsibly manage the relationship" between the two countries, the State Department said in a statement on Wednesday. 

The U.S. government has warned American companies that they faced potentially serious and escalating risks if they continued doing business in Hong Kong, as a result of China's continuing crackdown on freedoms and privacy there. 

More than 40% of a 24% sampling of members of the American Chamber of Commerce in Hong Kong said they "plan to or are considering" leaving the jurisdiction, with most citing concerns over such issues as a new and sweeping national security law, and growing U.S.-China tensions.

BMP Wealth Ltd. is a Hong Kong-based wealth management firm that was set up in 2017 to cater to the wealth management needs of what it calls "internationally-minded people," from such countries and regions as the UK and elsewhere in Europe, Canada, Australia and China. And now, it's in the process of entering the American expat wealth management sector as well, the company has told the American Expat Financial News Journal.

The Motley Fool, a U.S. stock investment advice website, is reported to be planning to close its office in Hong Kong, citing political uncertainties as a result of the ongoing tensions between the U.S. and China. 

China has begun coming after some of its citizens living abroad to collect taxes – making good on its previously-disclosed plans to get some of its taxpayers who are resident outside of the country to contribute to their home country’s tax coffers, Bloomberg, the South China Morning Post and other major media organizations have reported over the last few days.

The chairman and president of the American Chamber of Commerce in Hong Kong were denied entry to Macau on Saturday, as they sought to travel to an AmCham Macau event. Initial reports said they had been prevented from entering Macau – which like Hong Kong is a Special Administrative Region of China – in retaliation for American support of the Hong Kong Human Rights and Democracy Act (HKHR&DA), but on Monday Macau officials dismissed this.

Hong Kong has remained atop the annual Mercer cost-of-living league table for the second year in a row, and Tokyo stayed in second place, as Asian cities yet again proved to be the most expensive locations for companies looking to send their employees overseas to work. 

Hong Kong saw the greatest number of sales of ultra-prime residences costing more than US$25m (£22.1m, £19.9m) in the year to the end of August, according to a first-ever assessment of this market by Knight Frank.

New York and London ranked in second and third place respectively, the London-based property company's research revealed.