Biden says Hong Kong is 'deteriorating' and the administration is set to release an advisory for US businesses on the situation

• At a White House press briefing, President Biden said the situation in Hong Kong is "deteriorating."
• The White House is set to issue a business advisory - expected Friday - for US companies.
• China has been clamping down on Hong Kong's pro-democracy movement.

At a White House press briefing on Thursday, President Joe Biden said the situation in Hong Kong is "deteriorating," and that the administration is set to issue a business advisory - expected Friday - "as to what may happen" in Hong Kong.

"Let me talk about the business advisory," Biden said. "The situation in Hong Kong is deteriorating. And the Chinese government is not keeping its commitment that it made, how it would deal with Hong Kong."

"It's as simple as that and as complicated as that," Biden said at the press conference alongside German Chancellor Angela Merkel.

The Wall Street Journal reported that the advisory is expected to be aimed at US businesses, not at China via sanctions.

The statement comes as China's grip on Hong Kong tightens. In May 2020, China passed national-security legislation under which the country is allowed to set up a police presence in Hong Kong. The legislation limits the freedoms Hong Kong has had since 1997.

In March, 47 pro-democracy protesters in Hong Kong were charged with "conspiracy to commit subversion." Days later, China announced that it plans to overhaul Hong Kong's electoral system and install in leadership positions "patriots" loyal to Beijing.

The White House did not immediately reply to Insider's request for comment.