The United States on Wednesday slammed the fraud conviction of Hong Kong media tycoon Jimmy Lai, warning the Chinese territory's human rights protections are deteriorating and its once-vibrant press "has all but disappeared."

Lai was convicted on Tuesday, the latest in a slew of cases against the former owner of the now-shuttered pro-democracy newspaper Apple Daily.

State Department spokesman Ned Price said Washington condemned Lai's conviction on "spurious fraud charges" and warned such efforts to stifle press freedoms undermine China's international obligations to uphold the territory's high degree of autonomy and hurt its credibility as a business hub.

"We remain deeply concerned about the deterioration in protection for human rights and fundamental freedoms and the systematic dismantling of Hong Kong's autonomy under the National Security Law" imposed by the Chinese government (PRC), Price said in a statement.

"We urge PRC authorities to restore respect for press freedom in Hong Kong," Price said.

Lai and two former Apple Daily executives, Wong Wai-keung and Chow Tat-kuen, were accused of breaching the terms of a lease they signed with a government company for Apple Daily office space.

Lai, 74, was already behind bars over his role in huge democracy protests that swept Hong Kong three years ago. He faces an upcoming trial on national security charges where he faces up to life in prison.

AFP