HSBC said on Friday that China remains an important, strategic market, and committed to expand its business, services, talent pool and technology in the Chinese mainland market in the future.
“We hope the society can view global banking institutions’ role in China’s reform and opening-up in a rational, objective light,” the London-based bank said on its public WeChat account in what it described as a clarification of misleading rumors on the internet.
The bank, which is in the process of shedding 35,000 jobs, has sparked indignation among Chinese people following new revelations that it colluded with the US government in a crackdown on Chinese telecommunications giant Huawei by providing information to US authorities that led to the arrest of Meng Wanzhou, Huawei’s chief financial officer.
The bank has also been criticized by the Chinese public for not coming out earlier to express its support of the new national security legislation for Hong Kong.
Observers told the Global Times earlier this week that the bank will likely face more layoffs in the coming months, and could even lose the Chinese market altogether.
People pass by a HSBC bank in Hong Kong in February. Photo: IC
