CY Leung Urges HSBC Account Holders To Be Wary

Former Chief Executive CY Leung has said those with HSBC bank accounts, especially Hong Kong officials and delegates to mainland parliamentary bodies, should be wary of continuing the account with the bank.

Leung – who's a vice-chairman of the Chinese People's Political Consultative Conference (CPPCC) – wrote in a Facebook post on Friday that "it has been more than a week and HSBC has not yet expressed its position on the national security law".

He made the comments after the United Kingdom, the United States, Australia and Canada issued a joint statement expressing concerns over Beijing's future national security law for the SAR.

Leung said the joint statement interfered in China's internal affairs, that Hong Kong is in China, and that "we must clearly show these countries that Hong Kong is not their colony".

"HSBC’s profits mainly come from China, but the board of directors and senior management are almost all British," he wrote.

"In terms of political issues, this self-proclaimed British bank can't make money from China while following other Western countries trying to do damage the country's sovereignty, dignity, and the feelings of the people."

He argued that much of the business HSBC does in China can be replaced overnight by mainland banks or banks from other countries.

The former CE wrote deputies to the National People's Congress, members of the CPPCC, and Hong Kong government officials, people in business sector who have HSBC accounts should "protect themselves immediately and avoid becoming hostages like Huawei".

Leung then signed off his message saying: "We need to let British agencies like the British government, politicians, and HSBC know which side of their bread is buttered".

He also took aim at the US government's announcement that sanctions may be imposed if the national security law is passed, saying "we need to fight back".

Leung also criticised comments made by former governor of Hong Kong Chris Patten, who said that "China is an enemy to us now" and "China must pay a price."

In reply, the former CE wrote: "I want to tell the British that China will also draw a line in the sand, and see who pays the price."

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