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China threatens and insults HSBC over Huawei’s CFO arrest

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Despite saying it had nothing to do with the arrest, and backing China’s new powers over Hong Kong, the bank was described as being at ’rock bottom’

An HSBC branch in the financial Central district of Hong Kong, China. Picture: REUTERS/BOBBY YIP

Huawei CFO Meng Wanzhou’s is fighting against extradition from Canada to the US, where she is accused of bank fraud for misleading HSBC about Huawei’s relationship with a company operating in Iran, putting HSBC at risk of fines and penalties for breaking US sanctions on Tehran. “The role of HSBC in the Meng Wanzhou incident is already clear. HSBC’s credibility has also been wiped out,” said the commentary posted on the site backed by the State Council Information Office and the China International Publishing Group.

 

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