HSBC has published a photo on Chinese social media showing Asia Pacific CEO Peter Wong signing a petition supporting law enforcement. The HSBC press office in London confirmed the publication.
HSBC is headquartered in London, but it is established in Hong Kong and has a large business presence in China. The bank statement comes almost a week after Hong Kong’s former chief executive, Chung Ying, criticized HSBC for his silence.
Hong Kong and China are the biggest winners of HSBC. Last year, divisions withdrew enough money to eliminate losses in the UK and keep the company profitable.
The UK-based lender Standard Chartered weighed on Wednesday, saying in a statement that the proposed Chinese National Security Law for Hong Kong “could help maintain the long-term economic and social stability” of the city.
The law would also enable Chinese national security services to operate in the city “to fulfill duties related to protecting national security in accordance with the law.”
However, HSBC and Standard Chartered are among a growing list of the best companies in Hong Kong that have appeared in support of controversial legislation.
Garden Matheson, one of the oldest British trading houses in Hong Kong, issued a full-page advertisement on Wednesday in newspapers supporting Beijing Ta Cong Pao and Wen Wei Po, who have strong ties with the Chinese government.
“The development of the legal framework that supports national security is very important. It ensures that Hong Kong continues to attract investment, enhance employment opportunities and protect people’s livelihood,” the company said.
“The enactment of national security legislation will be beneficial to the long-term future of Hong Kong as the world’s leading trade and financial center,” Sawyer said.
“It is within every country [sovereign] “The right to address its national security concerns,” Lee from CK Hutchison said in a statement released last week.
“at the same time, [Hong Kong] He has a critical mission to fortify the faith of its citizens and maintain international confidence in the constitutional principle of “one country, two systems”.
Alexandra Lane contributed to this report.