HSBC posted a photo on Chinese social media, showing that Huang Guanzhong, CEO of the Asia-Pacific region, supported the law in a petition. HSBC’s London News Office confirmed the authenticity of the position.
HSBC is headquartered in London, but was established in Hong Kong and has important business in China. Almost a week after Leung Chun-ying, the former chief executive of Hong Kong, criticized HSBC for keeping silent, the bank issued the above statement.
So far, Hong Kong and mainland China are both HSBC’s biggest moneymakers. Last year, these departments absorbed enough funds to eliminate losses in the UK and keep the company profitable.
Standard Chartered, a UK-based interbank, also delivered a speech on Wednesday, saying that China’s proposed Hong Kong national security law “can help maintain Hong Kong’s long-term economic and social stability.”
The law will also enable Chinese national security agencies to “perform in accordance with law the maintenance of national security-related duties” in cities.
Even so, HSBC and Standard Chartered Bank are still among the top growing companies in Hong Kong, and these companies have shown support for controversial legislation.
Jardine Matheson, one of Hong Kong’s oldest British trading companies, published full-page advertisements in the pro-Beijing newspapers Ta Kung Pao and Wen Wei Po on Wednesday, and has close ties with the Chinese government.
The company said: “It is very important to establish a legal framework for maintaining national security. It can ensure that Hong Kong continues to attract investment, increase employment opportunities and protect people’s livelihood.”
Swire said: “The enactment of national security laws will be beneficial to Hong Kong’s long-term future as the world’s leading commercial and financial center.”
“It’s inside every country [sovereign] The right to solve its national security problems. “Li of Hutchison Whampoa said in a statement issued last week.
“at the same time, [Hong Kong] His mission is of utmost importance to safeguard the beliefs of his citizens and the international trust on the constitutional principles of “one country, two systems.” ”
-Alexandra Lin contributed to this report.