Hong Kong (CNN Business) Three quarters of the world's top banks do business in Hong Kong. Financial institutions have been grappling with rising geopolitical risks , which have put pressure on how they operate in Hong Kong. They handle a lot of transactions between the United States and Hong Kong and the rest of the world. Lam was one of dozens of Hong Kong and mainland Chinese officials sanctioned over the past year by the United States, which accused them of undermining Hong Kong's autonomy. "What about other parts of the world where Chinese and foreign incorporated banks located in Hong Kong are complying with American demands?"

Source: CNN August 26, 2021 07:52 UTC