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HSBC DENIES CHINESE MEDIA REPORTS THAT IT ‘FRAMED’ HUAWEI

HSBC on Saturday denied Chinese media reports that it had “framed” Huawei Technologies and played a role in the arrest of the chief financial officer (CFO) of the world’s biggest telecoms equipment maker, Gabriel Crossley reported for Reuters late on July 26, 2020.

In a statement posted on the bank’s Chinese WeChat messaging service account, the London-headquartered lender said it did not participate in the decision of the US Department of Justice to investigate Huawei. The HSBC statement comes a day after China’s official People’s Daily newspaper published a report accusing HSBC of being an accomplice of the US and lying about Huawei, resulting in the arrest of its CFO Meng Wanzhou in December 2018 at Vancouver International Airport on a warrant from the US.

She is accused by US authorities of bank fraud for misleading HSBC about Huawei’s relationship with a company operating in Iran, putting HSBC at risk of fines and penalties for breaking US sanctions on Tehran.


“The context of the development of the Huawei incident clearly shows that the US investigation of Huawei was not triggered by HSBC,” the bank said in its WeChat post, without directly referring to the People’s Daily report. “HSBC has no malice against Huawei, nor has it ‘framed’ Huawei,” it said. “In response to information requests from the U.S. Department of Justice, HSBC only provided factual information. HSBC has not ‘fabricated’ evidence or ‘concealed’ facts, nor will it distort facts or harm any customers for our own benefit.”


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