London Daily

Focus on the big picture.
Wednesday, Jul 30, 2025

Mike Pompeo renews attack on HSBC over Hong Kong and China

Mike Pompeo renews attack on HSBC over Hong Kong and China

US secretary of state says China bullying UK and claims accounts of pro-democracy customers are being closed
The US secretary of state, Mike Pompeo, has renewed his attack on HSBC for the bank’s alleged treatment of pro-democracy customers in Hong Kong, saying that China is “bullying” the UK.

Pompeo, who in June accused HSBC of a “corporate kowtow” to Beijing, cited reports of Hong Kong-based executives at Next Media being unable to access their bank accounts. He accused the bank, which is based on London but makes most of its profits in Hong Kong and China, of “maintaining accounts for individuals who have been sanctioned for denying freedom for Hongkongers while shutting accounts for those seeking freedom”.

“Free nations must ensure that corporate interests are not suborned by the CCP [Chinese Communist party] to aid its political repression,” Pompeo said on Wednesday. “We stand ready to help the British government and its companies resist CCP bullying and stand for freedom.”

HSBC, which is struggling to balance its need to stay in favour with China while the US and Britain remain critical of Beijing’s handling of Hong Kong’s pro-democracy movement, declined to comment.

The bank has also come in for criticism from Aviva Investors, one of Britain’s biggest investors and a top 20 shareholder, after Peter Wong, HSBC’s Asia-Pacific chief executive, signed a petition that backed China’s plans to enact a sweeping security law in Hong Kong.

Last month, the UK foreign secretary, Dominic Raab, reprimanded HSBC and other banks for supporting the controversial security law, saying the rights of the people of Hong Kong should not be sacrificed for bankers’ bonuses.

HSBC’s chief executive and his counterpart at Standard Chartered – which is also London-based but also one of Hong Kong’s biggest banks – have already been censured in a letter from Labour frontbenchers. The shadow chancellor, Anneliese Dodds, and the shadow foreign secretary, Lisa Nandy, urged both CEOs to withdraw their support for legislation.

The members of the shadow cabinet warned the banks in a letter that they could face a boycott and urged them to uphold Britain’s democratic values.

The US has criticised Beijing’s crackdown against pro-democracy opposition in Hong Kong after the security law was imposed on 30 June. The move by Beijing has also been widely condemned by other western nations.

The Hong Kong media tycoon Jimmy Lai, a prominent pro-democracy activist and top executive at Next Digital, was arrested this month under the law, further stoking concerns about media and other freedoms promised to Hong Kong when it returned to China in 1997.
Newsletter

Related Articles

0:00
0:00
Close
Former Judge Charged After Drunk Driving Crash Kills Comedian in Brazil
Jeff Bezos hasn’t paid a dollar in taxes for decades. He makes billions and pays $0 in taxes, LEGALLY
China Increases Use of Exit Bans Amid Rising U.S. Tensions
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Procter & Gamble to Raise U.S. Prices to Offset One‑Billion‑Dollar Tariff Cost
House Republicans Move to Defund OECD Over Global Tax Dispute
Botswana Seeks Controlling Stake in De Beers as Anglo American Prepares Exit
Trump Administration Proposes Repeal of Obama‑Era Endangerment Finding, Dismantling Regulatory Basis for CO₂ Emissions Limits
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
A family has been arrested in the UK for displaying the British flag
Mel Gibson refuses to work with Robert De Niro, saying, "Keep that woke clown away from me."
Trump Steamrolls EU in Landmark Trade Win: US–EU Trade Deal Imposes 15% Tariff on European Imports
ChatGPT CEO Sam Altman says people share personal info with ChatGPT but don’t know chats can be used as court evidence in legal cases.
The British propaganda channel BBC News lies again.
Deputy attorney general's second day of meeting with Ghislaine Maxwell has concluded
Controversial March in Switzerland Features Men Dressed in Nazi Uniforms
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
Thai Civilian Death Toll Rises to 12 in Cambodian Cross-Border Attacks
TSUNAMI: Trump Just Crossed the Rubicon—And There’s No Turning Back
Over 120 Criminal Cases Dismissed in Boston Amid Public Defender Shortage
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
Trump Announces $550 Billion Japanese Investment and New Trade Agreements with Indonesia and the Philippines
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
×