In response to the United States of America's order to close the Chinese Consulate in Houston, Texas, Chinese officials have officially ordered the closure of the America Consulate in the city of Chengdu, the Sichuan province, no later that 10:00 local time on Monday, July 27th, 2020. While American Secretary of State Mike Pompeo stated that the US decision was taken because China was "stealing" intellectual property, China's Foreign Ministry stated that the Chinese decision was taken after staff at the American Consulate "interfered in China's internal affairs and endangered China's security and interests".
The United States Consulate in Chengdu was initially opened in 1985 by George H. W. Bush in an annex of the Jinjiang Hotel, but was moved to its current location in 1993.
In response to the announcement, the Shanghai Composite Index (SHCOMP) closed down about 3.9% while the Hong Kong Hang Seng (HSI) recorded a drop of over 2%. Meanwhile, NASDAQ experienced a 0.8% slump alongside S&P500 (SPX).
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