bodyType

customContents

entityId

entityUuid

articlePageQuery

filter

article

articleBaseAdvertisingInfoArticle

articleListArticle

articleSeoArticle

helpersCheckIsPostiesArticle

hooksArticleAcknowledgementGateOverlayArticle

hooksTrackPageViewArticle

hooksContentInterestArticle

articleLinkingDataContent

articleSchemaContent

liveArticle

advertZone

sentiment

contentLock

topics

types

sections

moreOnThisArticles

urlAlias

commentCount

sponsorType

authorLocations

authors

paywallTypes

corrections

displaySlideShow

multimediaEmbed

printHeadline

seriesContainer

socialHeadline

headline

flag

firstTopic

glossary

flattenTypeIds

publishedDate

additionalInfoBoxes

images

image

relatedLinks

relatedNewsletters

__typename

createdDate

sponsor

factSheets

series

disableOffPlatformContent

published

updatedDate

summary

subHeadline

body

keywords

copyrighted

customTimezone

liveContents

Amanda Lee

Hong Kong must resolve its political crisis peacefully under “one country, two systems” and violence will not enable protesters to achieve their aims, the head of the city’s biggest bank told China’s state broadcaster.
Speaking publicly for the first time about the summer of unrest, HSBC chairman Mark Tucker said Hong Kong thrived because of its stability, resilience and rule of law.
“Its rule of law is essential to its status as an international financial centre. And we fully support the resolving of the issues peacefully, but under the framework of one country, two systems,” Tucker said in an interview with China Central Television aired late on Saturday.
“And we really look forward to being part of a peaceful and prosperous Hong Kong and clearly supporting China’s growth and development.




“We strongly condemn violence of any sort, any kind of disruption to communities where customers, staff and shareholders are based. We clearly have deep concern.”
Water cannon, tear gas used on Hong Kong protesters who hurl petrol bombs at police and vandalise MTR after tens of thousands march
He said he was confident about Hong Kong’s future as an international financial centre, adding that the bank would expand its investment in China and support international companies seeking business opportunities in the country.
“Yes, we have complete confidence in the future of Hong Kong as a financial centre, and we have complete confidence in the resilience of the financial market, and Hong Kong is a world leading financial centre,” Tucker said.
“[Hong Kong is] robust [and] open in terms of its banking sector, and it has deep public and private capital markets, and really world-class logistic and professional services.”
Tucker is the most senior executive from the British bank to join the chorus of business leaders condemning violence sparked by protests against the now-withdrawn extradition bill.




His comments follow advertisements in several Hong Kong Chinese-language broadsheet newspapers last month by HSBC, Standard Chartered and Bank of East Asia, calling for calm and a return to order.
Central government officials also met some 500 political and business leaders in August to gain their support to stop the chaos that has gripped the city since June.
The expanded Chinese edition of the Tucker interview published on CCTV’s website also included a part on HSBC’s history, saying it was tied closely to China’s own economic development.
But it ended with a reminder: “Please take note that whoever comes to China and does business with China must respect China’s laws.”
Beijing has sought to bring Hong Kong’s business community to its side and, in recent weeks, state media outlets have stepped up their criticisms of individual businesses that have appeared to sympathise with protesters.
The mainland’s civil aviation authority even put Cathay Pacific Airways under intense regulatory scrutiny over its employees’ involvement in or comments about the protests. It lead to the firing of staff and departure of top executives, including chairman John Slosar and chief executive Rupert Hogg.




State media outlets have also targeted accounting firms KPMG, Ernst & Young (EY), Deloitte and PricewaterhouseCoopers (PwC) and retailers such as Zara for not taking a clear stand against the protests.
The latest state media targets are Hong Kong’s property tycoons. Commentaries published last week by Communist Party mouthpieces Xinhua News Agency and People’s Daily, and even a social media opinion piece by the Central Political and Legal Affairs Commission, singled out unaffordable housing as a “root cause” behind young people taking to the streets.
Analysts said state media’s more aggressive rhetoric against businesses reflected the growing political risks for firms that operate in Hong Kong and mainland China.
Lokman Tsui, assistant professor at Chinese University of Hong Kong’s journalism school, said the central government was “forcing companies to do its political bidding” in return for access to the Chinese market.
When North Korea and the US restart nuclear weapons talks, the ‘bold decision’ might be to compromise
Adam Ni, a China researcher at Macquarie University in Sydney, said the messages from state media reflected Beijing’s growing attempts to enlist non-mainland companies to support its political agenda.
“I think the message Beijing is trying to send is that if you want to do business with China, then you would have to have the ‘correct’ political stance, including in Hong Kong,” Ni said. “It’s about enforcing political orthodoxy. It’s about ensuring political loyalty.”
He said Hong Kong businesses were walking a fine line between maintaining an international reputation and operating on the mainland.


Hong Kong mastermind of 2019 bomb plot targeting police jailed for nearly 24 years

Hong Kong protester jailed for 33 months for role in 2019 unrest after acquittal overturned

Hong Kong court awards HK$446,000 to police inspector assaulted in 2019 protest

Why Hong Kong should roll out the red carpet for international filmmakers

Hong Kong protests

HSBC chairman Mark Tucker condemns violent protests in Hong Kong

HSBC chairman Mark Tucker says protesters will not be able to achieve their goals through violence. Photo: Roy Issa

The world watches but will it stand with Hong Kong protesters?

Illustration: Lau Ka-kuen

Chinese Premier Li Keqiang, right, and German Chancellor Angela Merkel attend a welcome ceremony at the Great Hall of the People in Beijing, Friday, Sept. 6, 2019. Merkel visits China from Sept. 6-7, 2019. (Roman Pilipey/Pool Photo via AP)

Anti-Extradition Bill protesters wave the U.S. flags as they march to the Consulate General of the United States at Central for supporting "HK human rights and democracy act".   08SEP19 SCMP/ Sam Tsang

Foreign students In Japan hold up a placard which says No China Extradition at Meiji University on June 12, 2019 in Tokyo, Japan. Students gathered in Meiji University to show their support as Hong Kong braced for another mass rally in a show of strength against the government over a divisive plan to allow extraditions to China. (Keith Tsuji/Getty Images/TNS)

Cathay Pacific is just the start; tycoons will have to pick a side in Hong Kong’s protest crisis

Anti-government protesters occupy Sha Tin New Town Plaza after stopping MTR services earlier in the morning of August 5. Photo: Felix Wong

The police fire tear gas to protesters in Central after "Occupy Central" was officially launched in the early morning on Sep28. 29SEP14

A safety warning saying "To ensure the safety of our customers, unless there is a crime, then the police may not enter. If there is any need, please contact our staff" is posted at Times Square, Causeway Bay. 08AUG19 SCMP / Winson Wong

Anti-government protesters occupy the Sha Tin New Town Plaza shopping mall after stopping MTR services from departing earlier in the morning to cause major disruption to transport networks around Hong Kong (in response to a citywide strike). 05AUG19 SCMP / Felix Wong

Blindsided: why does Beijing keep getting Hong Kong wrong?

Illustration: Brian Wang

A protester covers the Hong Kong Special Administrative Region emblem with a British colonial flag as protesters storm the Legislative Council Chamber in Tamar during a protest against the extradition bill on the 22nd anniversary of Hong Kong's handover from Britain to China. 01JUL19 SCMP / Sam Tsang

Zhang Xiaoming, director of the State Council’s Hong Kong and Macau Affairs Office, holds a meeting in Shenzhen, regarding the current situation in Hong Kong. 07AUG19 SCMP / Winson Wong

Interview with Under Secretary for the Environment, Christine Loh Kung-wai at Central Government Offices in Admiralty. 10MAY17 SCMP / Jonathan Wong

Vice-chairman of the Chinese Association of Hong Kong and Macau Studies, Beijing's top political think tank on Hong Kong, Professor Lau Siu-kai attends a RTHK radio programme in Kowloon Tong. 16DEC17 SCMP/ Xiaomei Chen

Hennessy Road near Causeway Bay is a complete sea of black as Hongkongers of every age, profession and background, from every corner of the city, march in a massive show of solidarity and defiance against the extradition bill. 16JUN19

Chinese vice premier Han Zheng meets with a visiting delegation from Hong Kong Federation of Fujian Associations at the Great Hall of the People in Beijing on May 21, 2019. (Pool picture from Hong Kong Commercial Daily)

News

China

Politics

Hong Kong

Hong Kong economy

Economy

China Economy

Business

Banking & Finance


Tucker says the bank remains confident about the city’s future but solution to crisis must be within ‘one country, two systems’



Tucker says the bank remains confident about the city’s future but solution to crisis must be within ‘one country, two systems’.


Hong Kong extradition bill

HSBC