Bank sided with China in denying pension payouts to people who fled crackdown, says all-party group
HSBC is complicit in human rights abuses against Hong Kong residents by siding with Chinese authorities and denying pension payouts to those who fled the authoritarian crackdown, an inquiry by peers and MPs has concluded.
The report by the all-party parliamentary group (APPG) on Hong Kong took issue with the fact that banks including HSBC – which help to manage the compulsory pension fund that all residents pay into – have bowed to local authorities and refused to recognise the documentation of tens of thousands of residents who have tried to withdraw their pensions after fleeing to the UK.
