The U.S. Senate unanimously approved legislation on Thursday to penalize banks doing business with Chinese officials who implement Beijing's draconian new national security law on Hong Kong, sending it to the White House for President Donald Trump's signature.
WASHINGTON - The U.S. Senate unanimously approved legislation on Thursday to penalize banks doing business with Chinese officials who implement Beijing’s draconian new national security law on Hong Kong, sending it to the White House for President Donald Trump’s signature.
The United States and China have been at loggerheads for months over the handling of the coronavirus pandemic and Beijing’s harsh response to protests in Hong Kong. Washington has also sought to put more pressure on China over mistreatment of Muslim Uighurs in the Xinjiang region. The bill calls for sanctions on Chinese officials and others who help violate Hong Kong’s autonomy, and financial institutions that do business with those who are found to have participated in any crackdown on the city.
British Foreign Secretary Dominic Raab reprimanded HSBC and other firms on Wednesday for supporting the law, saying the rights of Hong Kong should not be sacrificed for bankers’ bonuses. Chinese Foreign Ministry spokesman Zhao Lijian, speaking in Beijing, warned the United States against signing or implementing the bill approved Thursday.The White House did not respond to a request for comment on whether Trump would sign the bill.
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