On Tuesday, US Secretary of State Mike Pompeo criticized banking giant HSBC for its support of China’s imposing of new restrictive security legislation in Hong Kong, stating that the US stood with its allies against “coercive bully tactics.” The Trump administration has also been vocal about condemning Beijing for moves that are seen as an attempt to end Hong Kong’s autonomy. HSBC is UK-based but formed in Hong Kong and has not responded to Pompeo’s statement.
US-China ties have been deteriorating since the start of the year over protests in Hong Kong over oppressive legislation and the COVID-19 pandemic that originated in Wuhan, China. Tuesday’s statement came after both the HSBC and Standard Chartered announced their support for China’s national security legislation in Hong Kong, part of which makes disrespecting the national anthem a federally punishable offense.
Read More: Mike Pompeo criticises HSBC for backing Hong Kong security law
