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RPT-SPECIAL REPORT-How Beijing humbled Britain's mighty HSBC


RPT-SPECIAL REPORT-How Beijing humbled Britain s mighty HSBC
Reuters
17 hrs ago
(Repeats story first published on Monday.)
By Sumeet Chatterjee and Engen Tham
HONG KONG/SHANGHAI, June 28 (Reuters) - On a rainy day last November, China Baowu Steel Group, the world s largest steel maker, gathered its finance department for a training session on the outskirts of Shanghai. One highlight was a presentation featuring a sensitive slide: a black list of 60 lenders that the state-owned steel giant had declared off-limits.
Virtually all the lenders branded by China Baowu as too high risk to engage with were troubled Chinese banks, large and small. But at the very end of the list, a copy of which was reviewed by Reuters, there was a single foreign lender, one of the largest banks in the world: HSBC Holdings PLC. ....

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Behind China's Takeover of Hong Kong - The New York Times


Hong Kong’s march toward an authoritarian future began with a single phrase in a dry policy paper. Beijing, the document declared, would wield “comprehensive jurisdiction” over the territory.
The paper, published in June 2014, signaled the Chinese leader Xi Jinping’s determination to tame political defiance in the former British colony, which had kept its own laws and freedoms. But the words were dismissed by many as intimidating swagger that the city’s robust legal system and democratic opposition could face down.
Hong Kong now knows Mr. Xi’s ambitions with a stunned clarity. The paper marked the opening of a contest for control in the city, culminating in the sweeping national security law that few saw coming. ....

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