#BREAKING Sunday Times finds that @HSBC has continued to buy shares in subsidiaries of the Xinjiang Production and Construction Corps (XPCC) *AFTER* the XPCC was sanctioned by @USTreasury in 2020. Featuring comment from #IPAC members 👇 
🇺🇸 Co-Chair, Senator @marcorubio:
“HSBC is working around existing sanctions against entities engaged in genocide so it can buy shares in Xinjiang. This is another example of a company turning a blind eye to genocide and slavery just to turn a profit….
“HSBC is working around existing sanctions against entities engaged in genocide so it can buy shares in Xinjiang. This is another example of a company turning a blind eye to genocide and slavery just to turn a profit….
The United States needs to hold HSBC and others accountable for their actions.”
🇬🇧 Co-Chair @MPIainDS
“Project Kow-Tow is alive and well in some British companies. After all, HSBC seem more and more to have thrown their lot in with the despotic Chinese government of President Xi Jinping. Remember how the bank chose to freeze the bank accounts, of…
“Project Kow-Tow is alive and well in some British companies. After all, HSBC seem more and more to have thrown their lot in with the despotic Chinese government of President Xi Jinping. Remember how the bank chose to freeze the bank accounts, of…
peaceful and brave Democracy campaigners whilst endorsing the treaty-busting Hong Kong National Security Law. Then adding anti democratic insult to injury, this paper now reports the bank may have purchased shares in companies accused of perpetrating atrocity crimes….
This is why we urgently need a Modern Slavery Risk Register listing firms complicit in any human rights abuses, (particularly the genocide of the Uyghurs), making clear that U.K. registered companies are forbidden from investing in such companies.”
🇺🇸 Congresswoman @RepYoungKim:
"Banks have a responsibility to ensure that their funds are not used to finance genocide and crimes against humanity, especially in a region that has been known for these violations for years. HSBC’s trading in a subsidiary of the Xinjiang…
"Banks have a responsibility to ensure that their funds are not used to finance genocide and crimes against humanity, especially in a region that has been known for these violations for years. HSBC’s trading in a subsidiary of the Xinjiang…
Production and Construction Corps, a state-backed paramilitary outfit with a known history of forced labor abuses in the Uyghur Region, demonstrates support for the gross human rights abuses by the Chinese government and undermines global efforts to stand with Uyghurs and…
other ethnic minorities tortured in Xinjiang. I urge the Biden Administration to immediately investigate the extent to which HSBC violated U.S. sanctions on the XPCC and hold institutions accountable for violations of U.S. law and basic human rights.”
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