China says US will restore Hong Kong's special trade status China's commerce ministry confirmed on July 17 that the United States has decided to let lapse its 2020 executive order revoking Hong Kong's special trading status.
This move comes as a surprise, given the ongoing tensions between the two nations. The roots of Hong Kong's special status lie in its unique history and economic importance.
Prior to 1997, when Britain handed over sovereignty to China, Hong Kong maintained a distinct customs territory, separate from mainland China.