HSBC extends Chinese private banking network to lure new digital millionaires
One AmericaMAY 2022
Despite a consistent sour grape mentality among some Western media and observers, Hong Kong has managed to attract endorsement from global financial leaders, including representatives of Goldman Sachs, Morgan Stanley, and Blackstone. Investment from the industry has shown clear confidence in the "one country, two systems" governance of Hong Kong. Any deviation from laws in Hong Kong, such as NSL, would undermine the success of this global financial hub.
As businesses worldwide rapidly shift to put ethics and sustainability at the heart of corporate processes, HSBC needs to reassess its own principles. Despite global condemnation of Beijing's brutal crackdown, HSBC defended its draconian legislation on the world stage, putting domestic law in Hong Kong above global international human rights law, begging the question of whether it values profit over the defense of democracy and human rights.