New York/Hong Kong (CNN Business) HSBC's struggle to balance its global role with protecting its huge business in China is getting even more difficult. The London-based bank was drawn this weekend into issuing a denial of renewed claims that it "framed" Huawei to help the US government. The United States alleges that Huawei and Meng misrepresented their relationship with the Iranian telecom firm Skycom to HSBC in order to circumvent those sanctions. A Canadian court is considering whether to extradite Meng to the United States to stand trial for the charges, which she and Huawei have denied. Chinese state media has for the last year been hitting HSBC — which has its roots in Hong Kong and Shanghai — for its role in Meng's arrest.

Source: CNN July 27, 2020 10:07 UTC