“HSBC made a rational and correct choice,” Mei Xinyu, a research fellow at the Ministry of Commerce’s Chinese Academy of International Trade and Economic Cooperation, told the Global Times on Thursday.
If it follows the lead of US hawks like Pompeo while turning a blind eye to local laws where it operates, how could it be a trustworthy business when it damages the interests of others in order to cater to US needs, Mei asked.
HSBC has been facing growing criticism in the Chinese market after evidence provided to a Canadian court showed how HSBC conspired with the US Department of Justice to set a “political trap” for Huawei and gave false testimony to the court.
This evidence could drag the British bank – which is already facing growing controversy due to a series of misdeeds and its swaying stance over key issues in China – into a more dangerous situation, according to some observers.
“The way the bank deals with Next Digital executives is a turning point, which shows its full-fledged desire to survive in China,” Mei said.