US says China ‘bullying’ Britain over HSBC Hong Kong accounts

Secretary of state expresses dismay at reports that British bank blocked access of pro-democracy customers

US Secretary of State Mike Pompeo deliver a pre-recorded speech from the rooftop of King David hotel in Jerusalem AFP Photo/Republican National Convention

The United States has accused China of “bullying” the United Kingdom, citing the actions of the British bank HSBC amid ongoing unrest in Hong Kong.

In a statement released on Wednesday, the US Secretary of State Mike Pompeo said he was “dismayed” over HSBC’s decision to deny individuals access to their accounts because of political pressure from Beijing.

He referenced reports of Hong Kong-based executives at Next Media being unable to access their HSBC bank accounts because of their pro-democracy stance.

“The United States is dismayed to learn that the Chinese Communist Party’s coercive bullying tactics against our friends in the United Kingdom continues,” Mr Pompeo said.

“In the latest example, British bank HSBC has reportedly prevented Hong Kong-based executives at Next Media, a well-known [producer] of pro-democracy publications, from accessing their credit cards and personal bank accounts.

Media mogul Jimmy Lai Chee-ying, founder of Apple Daily, arrives West Kowloon Magistrates' Courts to facing a criminal intimidation charge in Hong Kong, China August 20, 2020 Reuters

“The bank is thus maintaining accounts for individuals who have been sanctioned for denying freedom for Hong Kongers, while shutting accounts for those seeking freedom,” he continued.

Neither the office of British Prime Minister Boris Johnson or the UK's Foreign and Commonwealth Office immediately responded to The National for comment.

The US and Britain, the former colonial power in Hong Kong, have been critical of China’s crackdown against pro-democracy opposition following a sweeping new security law imposed on Hong Kong at the end of June.

The law allows for any behaviour that China considers to be secessionist, subversive, terrorism or collusion with foreign forces to be punished with life imprisonment.

Hong Kong returned to Chinese rule in 1997 under a one-country, two-systems agreement with the UK.

Jimmy Lai, a prominent democracy activist and executive at Next Digital was arrested on August 10 under the new law, further stoking concerns about media and other freedoms promised to Hong Kong when it returned to China in 1997.

“Free nations must ensure that corporate interests are not suborned by the [Chinese Communist Party (CCP)] to aid its political repression,” Mr Pompeo added in his statement. “We stand ready to help the British government and its companies resist CCP bullying and stand for freedom.”

A spokesman for HSBC declined to comment on Mr Pompeo's remarks.