Hong Kong (CNN Business) HSBC has carved out a lucrative role in global banking over the past 155 years by straddling the line between East and West. HSBC HSBC declined to provide further comment on its support for the law. Hong Kong was seen as the natural choice, given its deep roots there and the allure of lower corporate taxes. On Tuesday, Bloomberg reported that Washington was also looking for "ways to punish banks based in Hong Kong, particularly HSBC." They will want to see how the situation in China and Hong Kong settles down.

Source: CNN July 09, 2020 09:11 UTC