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

HSBC and Standard Chartered back Hong Kong security law

UK-based banks follow moves by major businesses in the city

HONG KONG -- The two British lenders that dominate Hong Kong banking have come out in support of Beijing's national security law for the city despite opposition from the U.K. government, highlighting the pressure on businesses to choose sides over the contentious legislation.

HSBC Holdings and Standard Chartered on Wednesday in carefully worded statements endorsed the proposed law, which opponents say will end the "one country, two systems" framework that governs the territory and eventually end the city's role as a global financial center.

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