News

HSBC rejected claims by state-controlled media in China that the bank proactively worked with U.S. authorities seeking to prosecute senior Huawei executive Meng Wanzhou for sanctions evasion, The Wall Street Journal reported. More Global banks are restricting and terminating the accounts of senior officials in Hong Kong after the U.S. threatened to impose sanctions on financial institutions that aid China's alleged political crackdown on the special administrative region, the Financial Times reported. More China's central bank advised domestic financial institutions to switch from Swift, the Belgium-based Swift payment-messaging platform, to the Beijing-led CIPS platform to circumvent the looming U.S. sanctions...