HONG KONG - The consequences of the tougher US stance towards Hong Kong, especially the imposition of sanctions on top officials in the territory as well as from the mainland, are extensive, with severe implications for financial institutions, both local and international, in the city.
This is because of the reach of the US financial system, which not only covers US-domiciled companies or firms incorporated in the US but also any foreign office of a US-domiciled company.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you