How do people feel about HSBC supporting China's new Hong Kong national security law?

coachman12

https://www.bbc.co.uk/news/world-asia-china-53330650?intlink_from_url=https://www.bbc.co.uk/news/topics/cp7r8vglne2t/hong-kong&link_location=live-reporting-story
Looks like the MSS are moving in to HK en masse. Zeng Yanxiong, a well known hardliner and a specialist in torture has been chosen by Beijing to head up the new office.
It all makes HSBC's sordid skulking around a bit of trivia.

Thrugelmir

coachman12 said:

Thrugelmir said:

For the past 25 years or so no one has objected to "Made in China". Now there's tantrums. 

It is true , Thrugelmir, that much of the world has turned its head from the appalling events in China, particularly in Xinjiang and Tibet.  But please do not say "no one has objected to Made In China". I think the murder of innocent unarmed students in Tiananmen Square made a big impression on good people everywhere ; and there are thriving support and goods' boycotts groups in all  civilised countries today, including https://savetibet.org/support-tibet/ of which I have been a member for many years. I have also paid 5% of my income since my first salary payment when I was 21 to Tibetan causes, including relief for those fleeing across the Himalayas to India. I have also , unless unknowingly, kept away from Chinese made products and financial investments. And a number of international groups are boycotting Chinese goods .The disappearance of millions of Uighurs has been heavily criticised all over the world in recent years and currently ------ https://en.wikipedia.org/wiki/Xinjiang_re-education_camps.
The Dalai Lama has been recognised internationally with many awards, including The Nobel Peace Prize and the US Congressional Gold Medal ----- http://www.umass.edu/rso/fretibet/education.html; and most national democratic parliaments, including ours, has condemned China's oppression and abuse and murder over many more than 25 years. And the UN has published many reports and condemnations about inhuman treatment of the innocent , including genocide and destruction of culture, religion and language, over many years since 1950, including in more recent times when Beijing's threats frighten most countries and organisations into submission.
So it's not really fair to tar us all with the same brush please.

This has nothing to do with banking or business. 

coachman12

I agree that it has veered away a lot but it did start , and mentioned at start of my quote you have copied above, with "Made In China" which was responding directly to YOUR post which talked  about goods made in China ( which is obviously business-oriented )-----so the tentative link remains. But, you're right---after that my post moved too far away from finance and business. If I carry it on , IF it is not primarily about finance/business/trade, I will go to the good old Vent site.

Thrugelmir

coachman12 said:

I agree that it has veered away a lot but it did start , and mentioned at start of my quote you have copied above, with "Made In China" which was responding directly to YOUR post which talked  about goods made in China ( which is obviously business-oriented )-----so the tentative link remains. But, you're right---after that my post moved too far away from finance and business. If I carry it on , IF it is not primarily about finance/business/trade, I will go to the good old Vent site.

My issue is with singling out one particular Company. When many people have become very rich from dealing with China more recently. 

MalMonroe

Well, HSBC stands for Hongkong and Shanghai Banking Corporation Limited. So. . . .

notveryeducated

I have a HSBC Student account and I'm not going to switch away/close my account down with them after hearing about this. I've had a consistently good service on the phone and in branch from HSBC, they have a 2.75% regular saver, their online/mobile banking is acceptable and from what I've heard they're a very good mortgage provider.

coachman12

notveryeducated said:

I have a HSBC Student account and I'm not going to switch away/close my account down with them after hearing about this. I've had a consistently good service on the phone and in branch from HSBC, they have a 2.75% regular saver, their online/mobile banking is acceptable and from what I've heard they're a very good mortgage provider.

And you have every right to do as you please, just as we all did during apartheid in S Africa, when every single little act of defiance against the S African Govt, including boycotting of goods and stopping financial enterprises with them,  all led to the eventual ending of an awful injustice.

London7766551

Interestingly I tried to open an account at another bank and it appears I was rejected. Strange as I have a good rating and good salary. I was planning to move to another bank and just keep the HSBC regular saver, but I am "trapped" at the moment it seems. Perhaps banks are being very careful about new accounts due to the uncertainty in the world with Covid. Maybe I will try again in a few months.

michaels

I shall be closing my hsbc accounts as they are not main accounts, the first direct would be more of a pain to get rid of.  Lucky they have downgraded the value of the reg savers so much, it makes it much cheaper to follow my conscience

London7766551

First direct is HSBC. I think you know anyway but just in case you don't!

I have had more success now with another account, turns out the bank was just very slow. I aim to move all of my money out of HSBC over the next month, providing I can get out of the saver. Current account, credit card, savers all closed. They won't notice me going but every little helps. 

再见