michael hirson welcome back to the newshour. how significant ask it that the u.s. has issued this advisory for hong kong? >> i don't think any news in the advisory is going to be shocking. it does represent a deterioration in hong kong's business environment and it shows that you the biden administration is quite willing to push the envelope essentially on this issue even though it's quite sensitive to china. >> reporter: you talked to businesses in hong kong. what are they saying, are they planning on any changes because of in business advisory? >> i don't think the advisory is going to lead to any kind of rapid change in terms of how businesses view hong kong. i think for financial services companies, hong kong is really still important as a capital gateway to china. but i think there are other companies who have maybe used hong kong as an asia regional hub for whom this is going to matter, it is going to play in conversations for example with their board where there's a diversity of views as to whether or not it makes sense to be in hong kong. and now that the s