China parliament approves Hong Kong security bill as tensions with U.S. rise

Rich Chinese are expected to park fewer funds in Hong Kong on worries that the security law could allow mainland authorities to seize their wealth, bankers and other industry sources said.

Trump's possible response could include visa and economic sanctions, David Stilwell, the State Department's assistant secretary for East Asia, told reporters.

"Sanction is painful but necessary," Agnes Chow from Hong Kong's pro-democracy group Demosisto told reporters.

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Chinese-claimed Taiwan on Thursday promised to settle any Hong Kong people who flee for political reasons, offering help from employment to counselling.

Earlier on Thursday, angry exchanges in the city's assembly, the Legislative Council, during debate on the anthem bill saw some lawmakers removed in chaotic scenes and the session adjourned.