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HSBC feels heat on Huawei CFO case as China draws up unreliable entity list

2019-08-03 07:07:32       source:Global Times

August 2, 2019


China's unreliable entity list is being drawn up, and any firm that violates laws and rules in the Chinese market would be investigated and dealt with in accordance with the law, the Foreign Ministry told the Global Times on Friday in response to media reports that the UK-listed HSBC would likely be blacklisted by China for helping US prosecutors charge Huawei.

China welcomes foreign investment in the domestic market and will protect their legitimate rights and interests, Foreign Ministry spokesperson Hua Chunying said. "But any firm that runs a business in China must comply with laws and regulations."

Huawei has been doing business in the UK for many years with investments worth more than 2 billion pounds ($2.4 billion), Hua said, noting that the Chinese firm hired more than 10,000 employees and set up a joint research center and actively fulfilled its corporate social responsibility in the UK.


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