Banking

Standard Chartered CEO says Hong Kong is ‘very, very safe’

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  • Hong Kong’s position as global financial center remains “very, very safe” even as the city was caught up in escalating tensions between the U.S. and China, said Bill Winters, CEO of London-headquartered bank Standard Chartered.

SINGAPORE — Hong Kong’s situation as worldwide money related focus stays “extremely, safe” even as the city is up to speed in raising strains between the U.S. also, China, as per Standard Chartered’s Chief Executive Bill Winters.

“The truth of the matter is Hong Kong is staying here as the passage to China for capital into China and out of China. That is just gotten all the more clear,” Winters, who’s going to the virtual Singapore Summit, told CNBC’s “Road Signs Asia” on Wednesday.

Beijing not long ago sanctioned a dubious public security law in Hong Kong, a Chinese region with more opportunity than terrain urban areas. The U.S. hit out at the move and authorized a few people — including Hong Kong pioneer Carrie Lam — for sabotaging the city’s self-rule.

Stanchart, a British bank that makes a big deal about its benefits in Asia, said in June that it accepts the public security law “can help keep up the drawn-out financial and social soundness of Hong Kong.” Three months in, Winters said that prior trust in steadiness “appears to have been all around established and is playing out.”

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