Jun 4, 2020

HSBC and StanChart back China security laws for HK

HSBC and Standard Chartered have given their backing to China's new security laws for Hong Kong. It is unusual for a bank to enter into political debate, particularly one as controversial as China's new security laws which many feel could mark the end of Hong Kong's unique freedoms. HSBC "Respects and supports all laws that stabilise Hong Kong's social order," it said in a post on social media in China. People are also worried about suggestions that China could set up its own institutions in Hong Kong responsible for security. "The new national security law will deal the most severe blow to the rights of people in Hong Kong since the territory's transfer to China in 1997," according to Human Rights Watch.

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