[texas booster]

HSBC has massive banking centers in HK and Shanghai.

It used to be said that since they made the loans to the Chinese government (pre-1999) they were the sole untouchables in China.

Now ... ?

[teacherwoes]

HSBC was already threatened that they need to support the new security law or else. Threats included basically being shut down in China where they do most of their business. So, they issued a statement supporting it.