HONG KONG/LONDON: Senior British politicians criticised HSBC and Standard Chartered on Thursday after the banks backed China's national security law for Hong Kong, in conflict with the British government's opposition to the proposed legislation.
People who said they are HSBC customers posted on social media that they will close their accounts in response to HSBC's backing of Beijing.The reaction highlighted the predicament facing the two banks, based in Britain but with deep roots in China where they are trying to expand when the country's ruling party is clashing with Britain and the United States.
The Global Times, which is published by the People's Daily, the official newspaper of China's ruling Communist Party, said that HSBC's move should have come earlier. The United States, Australia and Canada have all criticised China for imposing the law on the former British colony. "When two banks started to take a stand, it will be no surprise that other banks will start to follow suit."
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