HSBC under new Hong Kong attack

A SECOND major investor has hit out at HSBC for backing China’s crackdown on Hong Kong.

Hermes said it is in talks with the bank after HSBC supported a new law in a post on Chinese social media platform WeChat.

Roland Bosch, of Hermes Investment, told The Mail on Sunday: ‘We are engaging with HSBC to fully understand its position on the Chinese national security law for Hong Kong.

‘We have questions on the bank’s statement amid concerns the law may have an adverse impact on human rights in Hong Kong. We expect firms to support improvements in protections for citizens, not back their removal.’

Two weeks ago Aviva said it was ‘uneasy’ about HSBC’s support for the new security law, which critics fear will silence dissidents in Hong Kong. Standard Chartered and HSBC supported the law after their activities were threatened by former Hong Kong leader Leung Chun-ying, who said they profited from Chinese business without defending the state. HSBC declined to comment.