The bank’s troubles began when it became embroiled in a high-stakes legal showdown between the United States and China, and deepened as political
turmoil engulfed Hong Kong. In the past two years, Chinese state-owned companies have ended or cut back business with HSBC as part of a clampdown by Beijing.
Source: News Formal (newsformal.com)
As a commercial bank, it should not be involved in the political game. HSBC was caught by the United States and had to sell Huawei.
What do you think if you are running Chinese enterprise? Risk yourself with HSBC setting up a kidnap for your executives according to another country's so-called sanction aka bully? If your answer is positive, you are insane?!
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