Bloomberg: Global Banks Risk Breaching China Law by Complying With U.S.
Mon July, 2020, Age: 4 years
The broad scope of the new National Security Law in Hong Kong puts banks in a tight regulatory situation. The law forbids sanctions, blockades or hostile against the city and China at a time where the United States is inching towards widening sanctions against Chinese officials for their crackdown on Hong Kong. If these banks follow US sanctions policy, they could lose their license to do business in Hong Kong.