Pompeo calls out HSBC for supporting China’s move over Hong Kong
The British bank’s stance has attracted criticism in the UK with one Tory saying it is more ‘aligned with the Chinese government than Her Majesty’s’
Hong Kong/London — US secretary of state Mike Pompeo has criticised HSBC Holdings for backing China’s move to impose national security legislation in Hong Kong, underscoring the increasing political pressures on multinationals dependent on the former British colony.
In a statement on Tuesday, Pompeo accused the London-based banking giant of assisting the Chinese Communist Party’s (CCP) “coercive bully tactics” against the UK. The criticism by the top US diplomat comes after one of the largest shareholders in HSBC and Standard Chartered expressed discomfort with the banks’ decision to support the legislation without knowing its provisions and how they will be used...
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