Clock Ticks For Banks to Follow Trump’s Hong Kong Sanctions
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The countdown has begun on whether banks will be ensnared in the Trump administration’s sanctions on Chinese and Hong Kong officials, singled out for contributing to a clampdown on political freedoms in the Asian hub.
A U.S. report to Congress on Wednesday named 10 officials, including Hong Kong Chief Executive Carrie Lam and Xia Baolong, the head of China’s Hong Kong and Macao Affairs Office, over their role in implementing a new security law in the former British colony. The State Department list reinforced sanctions imposed in August under an executive order, which had included one additional name.