ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

HSBC takes fire from top investor and US for backing China law

Aviva and Pompeo find fault with bank over Hong Kong national security bill

HONG KONG -- HSBC Holdings is facing criticism from a leading shareholder as well as top foreign officials over its decision to endorse China's new national security laws for Hong Kong.

David Cummings, chief investment officer at the investment arm of British insurer Aviva, has questioned moves by fellow British financial institutions HSBC and Standard Chartered to publicly back the Chinese bills without having details of what measures they contain. Aviva holds $1 billion in shares of the two banks, ranking as one of the 12 largest shareholders of both.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more