(Reuters) - Hong Kong leader Carrie Lam said late on Friday the Chinese proposal to impose national security laws on Hong Kong will improve business confidence in the city and will not damage the interests of foreign investors, China's state news agency Xinhua reported.


Communist Party rulers in Beijing on Friday unveiled details of the legislation that critics see as a turning point for the former British colony, which enjoys many freedoms, including an independent legal system and right to protest, not allowed on the mainland.


The step will improve safety and protect interests of local Hong Kong residents and foreign investors, Lam said in a press briefing, according to Xinhua.