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.
“HSBC HAS NO MALICE AGAINST HUAWEI”
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 context of the development of the Huawei incident clearly shows that the U.S. 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.
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 United States and lying about Huawei, resulting in the arrest of its CFO Meng Wanzhou. Meng was arrested in December 2018 at Vancouver International Airport on a warrant from the United States.
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.