Tag: HSBC Holdings

HSBC Becomes First Foreign Bank to Install Communist Party Committee

July 26, 2022
CCP controlChinaChina Business & EconomyChinese RegimeHSBC BankHSBC Holdings
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HSBC has become the first foreign bank with investment business in mainland China to set up a Chinese Communist Party (CCP) committee as part of its operations, according to a July 21 Financial Times report. HSBC Qianhai is a securities joint venture between HSBC and Qianhai Financial Holdings. After HSBC’s stake in the joint venture increased from…

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US Demands ‘Immediate Rectification’ From HSBC Over Frozen Accounts of Hong Kong Activists

March 4, 2022
Asia & PacificBusiness & EconomyChinaChina Business & EconomyCompaniesHong KongHSBC HoldingsUnited StatesUSUS-China relationsWorld
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A bipartisan group of U.S. lawmakers has demanded clarification from HSBC Holdings Plc over the freezing of accounts of Hong Kong activists and restrictions on the accounts of American citizens, urging the bank to make “immediate rectification” of such acts. The group of six U.S. senators and members of the Congressional-Executive Commission on China issued…

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