[Global Times Hong Kong Special Correspondent Yang Weimin] HSBC and Standard Chartered Bank of the United Kingdom expressed their support for the National People's Congress to enact legislation related to Hong Kong's national security, which triggered domestic domestic accusations.
According to Hong Kong's "Sing Tao Daily" reported on the 8th, after HSBC and Standard Chartered expressed their positions, the leader of the House of Commons of the British Conservative Party Mog criticized HSBC for being more pro-China than pro-UK. Labour MPs also asked HSBC and Standard Chartered to give up support for the National People's Congress's national security legislation. . Labor’s shadow cabinet foreign minister Nandi and shadow finance minister Du Anne issued open letters to HSBC’s chief executive Chi Yaonian and Standard Chartered chief executive Wen Tuosi, expressing “deep concern” about their position, saying that the two banks should issue a statement “withdrawal” "To support China's proposed Hong Kong-related national security legislation, the bank's position today is "completely inconsistent" with the value framework that financial institutions should abide by. In addition, there are British MPs threatening that HSBC’s support for Beijing to strengthen its control over Hong Kong is “burning the bridge with friends”.
Following the shooting of Liang Zhenying, the vice chairman of the National Committee of the Chinese People's Political Consultative Conference and the former chief executive of Hong Kong, the mainland's official media also questioned that HSBC's Hongkong and Shanghai Banking Corporation did not express its position on the national security legislation involving Hong Kong. Liang Zhenying said that HSBC's profits mainly come from China, but the board of directors and senior management are almost all British. "On political issues, HSBC, which calls itself a British bank, should not make Chinese money while following Western countries. Things that undermine China's sovereignty, dignity, and people's feelings." On the 3rd, HSBC China uploaded a photo signed by Wang Dongsheng, the chief executive of the HSBC Asia Pacific region, a member of the CPPCC National Committee and chairman of the Hong Kong General Chamber of Commerce, on the WeChat public account to prove that HSBC supports the position of Hong Kong-related national security legislation. A Standard Chartered spokesperson said on the 4th that it believes that Hong Kong-related national security legislation can help Hong Kong maintain long-term stability, and hopes that the final legislative provisions will be clearer.
Toutiao Daily reported that HSBC and Standard Chartered are headquartered in the United Kingdom, but China has the most extensive business. In 2019, Hong Kong accounted for 90% of HSBC’s pre-tax profits, while Standard Chartered accounted for 41%, “explaining the importance of Hong Kong to the profits of the two banks.” According to a report in the British "Daily Telegraph", the chairman of HSBC Du Jiaqi once privately told the adviser of the British Prime Minister Johnson that if the UK bans Huawei from selling 5G equipment to the British mobile phone operator, HSBC may be retaliated against.