The US has openly accused banking giant HSBC of doing business with sanctioned individuals.
The report “underscores our ongoing objection to Beijing’s actions that are intentionally designed to erode the freedoms of the people of Hong Kong and impose the CCP’s oppressive policies”, the State Department said, referring to the Chinese Communist Party. The Hong Kong Autonomy Act goes a step further than previous US efforts by laying the groundwork for sanctions in the world’s largest economy against banks seen as abetting the clampdown in the city.
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