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Finance

US threatens to cut off Chinese banks' access to dollars

Asset freeze and investment ban among sanctions targeting Beijing's Hong Kong clampdown

A Chinese bank employee counts U.S. currency notes at a local bank in Nanjing, capital of east China's Jiangsu province.   © Reuters

WASHINGTON -- Chinese banks seen as complicit in Beijing's clampdown on Hong Kong face being cut off from much of the global financial system under wide-ranging sanctions that are a part of newly enacted U.S. legislation.

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