US officials attack HSBC for treating pro-democracy protesters in Hong Kong, accusing China of ‘bullying’ the bank
US officials have attacked HSBC for treating pro-democracy protesters in Hong Kong and accused China of ‘bullying’ the bank.
Donald Trump’s chief foreign affairs adviser, Secretary of State Mike Pompeo, claimed the lender kept bank accounts for sanctioned officials, but cut off those who “ sought freedom. ”
It’s the latest salvo in a row that HSBC has caught among the world’s greatest superpowers.
Under fire: Mike Pompeo, alleged lender kept bank accounts for sanctioned officials but cut off those who ‘sought freedom’
The lender is under investigation after he passes a security law imposed on Hong Kong by China. In response, the US has issued sanctions against Chinese and Hong Kong officials.
While HSBC makes the most money in Asia, it has a significant US presence and provides much of the financial conduit between the East and the West.
Pompeo said HSBC was “ keeping accounts for individuals penalized for denying freedom to Hong Kongers while closing accounts for those seeking freedom. ”
He added, “Free nations must ensure that corporate interests are not subordinated to the Chinese Communist Party to support its political repression.”