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The inside of a movie theater in Hong Kong. Photo: Roy Liu/Bloomberg via Getty Images

Hong Kong's government on Friday announced it will censor films that it says are endangering national security.

Why it matters: "The new guidelines ... are the latest sign of how thoroughly Hong Kong, a semiautonomous Chinese territory, is being reshaped by a security law enacted last year to quash antigovernment protests," the New York Times writes.

Details: The new guidelines state that Hong Kong officials are responsible for safeguarding national security, meaning they have the authority to examine and classify films, and ultimately block their distribution.

  • Movies that are seen as "objectively and reasonably capable of being perceived as endorsing, supporting, promoting, glorifying, encouraging or inciting" activities that "amount to an [offense] endangering national security" will be considered unfit for release, according to the guidelines.

What they're saying: "Although fundamental rights ... should be respected, the exercise of such rights are subject to restrictions provided by law that are necessary for pursuing legitimate aims, such as respecting the rights or reputation of others, and the protection of national security or public order, or public health or morals," a spokesperson for the Hong Kong government said in a statement.

Go deeper: New Hong Kong law sets harsh penalties for broadly defined political crimes

Go deeper

U.S. shifts tactics to confront China's tech strength

Illustration: Sarah Grillo/Axios

Besting China is one of the very few goals that Democrats and Republicans in Washington can agree on — as a new White House executive order and Senate passage of a new $200 billion bill, both targeting China's tech industry, show.

Yes, but: Where the Trump administration took an impulsive and haphazard approach to banning Chinese companies and products, President Biden is approaching the China rivalry in a more systematic and process-oriented way.

S&P 500 slides into correction territory

Data: FactSet; Chart: Axios Visuals

Stocks suffered their worst drop of the year, pushing the S&P 500 on track to fall into a "correction."

Driving the news: The benchmark S&P 500 dropped for its fifth straight day, with losses nearing 3% in early trading.

Updated 44 mins ago - Politics & Policy

Omicron dashboard

Illustration: Aïda Amer/Axios

  1. Health: Fauci: "Confident" Omicron cases will peak in February — FDA OKs antiviral drug remdesivir for non-hospitalized patients — Walensky: CDC language "pivoting" on "fully vaccinated."
  2. Vaccines: The shifting definition of fully vaccinated — Annual vaccine preferable to boosters, says Pfizer CEO — Team USA 100% vaccinated ahead of Beijing Olympics.
  3. Politics: Virginia school boards sue Gov. Youngkin for lifting mask mandate — Gonzaga University revokes NBA great John Stockton's tickets over mask stance — Arizona governor sues Biden administration over funds tied to mandates.
  4. World: Beijing Olympic Committee lowers testing threshold ahead of Games — Beijing officials urge "emergency mode" before Winter Olympics — Austria approves vaccine mandate for adults.
  5. Variant tracker