Giant Hong Kong and Shanghai Bank Corporation found a technicality in London’s High Court in order to keep secret the evidence it provided the US government for the prosecution of Meng Wanzhou. The case has now moved to Hong Kong, where deference to US security interests is not so powerful.
HSBC is at the center of the case, which centers on a briefing by Meng in Hong Kong. It has a moral obligation to release all the evidence in the case.
It also has a practical reason to release the evidence. HSBC is vulnerable to backlash from China.
About 35 per cent of its bank accounts are [in Hong Kong.] In 2019, pre-tax profits from Hong Kong and China totalled $14.9 billion — more than the company’s entire profits of $13.3 billion after losses in other markets, such as the UK, were accounted for.Jamie Nimmo @JamieNimmo63 Curse of Huawei case deepens HSBC’s Chinese nightmare