Tuesday December 10, 4:20 PM

HONG KONG (Reuters) - [...]

Hong Kong's government is aiming to enact by July a tough anti-subversion law [...]

But the issue has inflamed rights activists and legal circles, which worry the law may roll back civil liberties and be exploited by authorities to target anyone they did not like.

Concepts such as "state secrets" and "national security" in the future law are also considered too vague, leaving them open for abuse, rights and other experts say.

Much unhappiness also surrounds the government's refusal to have a second round of consultation before sending the law to the legislature, a body perceived to be so compliant that it is unlikely to try to change major provisions in the planned law.

The United States recently called for the "fullest possible consultation" on the law and Britain, which returned Hong Kong to China in 1997, said it would closely follow developments and monitor how the legislation is applied.

Under an agreement between Britain and China on Hong Kong's handover, the former British colony was promised a high degree of autonomy for 50 years.

But while Hong Kong's government has assured that legal concepts from the communist mainland will not be imported here and stressed it will not curb rights, the planned law has spooked its financial community -- long considered the cornerstone of this Asian financial hub.

Some financial analysts are even fretting over whether they can write and issue reports as freely in the future.

[...]

http://sg.news.yahoo.com/reuters/asia-137104.html