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 a letter to HSBC group chief executive Noel Quinn, requesting “transparent answers” for the bank’s actions. They accused the bank of having frozen the accounts of Hong Kong activists, independent media, and civic groups, many of which were forced to close or end operations. Among the individuals whose accounts were frozen were Ted Hui, a former Hong Kong pro-democracy legislator, and Jimmy Lai, the chief executive of the now-defunct Apple Daily pro-democracy newspaper. Holders of British national overseas passports have also been denied access to HSBC pension funds when they leave Hong Kong for the …
US Demands ‘Immediate Rectification’ From HSBC Over Frozen Accounts of Hong Kong Activists
March 4, 2022
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Asia & PacificBusiness & EconomyChinaChina Business & EconomyCompaniesHong KongHSBC HoldingsUnited StatesUSUS-China relationsWorld
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