HONG KONG/LONDON - HSBC and Standard Chartered banks gave their backing to China's imposition of a national security law on Hong Kong on Wednesday in a break from their usual policy of political neutrality.
HSBC moved its headquarters to London in 1993, but Hong Kong is still its biggest market. It has invested billions of dollars in China to grow its market share in the world's second-largest economy, and it has become harder for the bank to follow an apolitical line as it faces criticism from both the pro- and anti-Beijing camps.
Some protesters accused HSBC of being complicit in action by the authorities against activists trying to raise money to support protesters, accusations the bank denied.
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