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Hong Kong media tycoon Jimmy Lai says businesses kowtowing to Beijing

Jun 04, 2020 | 🚀 Fathership
HONG KONG - Hong Kong media tycoon Jimmy Lai said some of the city's biggest companies have given in to pressure from Beijing to voice support for a controversial national security law drafted by China for the city.

London-based bank HSBC was earlier criticised by Chinese state media and a former chief executive of Hong Kong for its silence on the draft legislation that has provoked renewed protests in the former British colony.

HSBC's top Asia executive Peter Wong signed a petition backing the law on Wednesday, the same day Standard Chartered endorsed the Chinese law.

Mr Lai, 72, and his paper have been outspoken against Beijing's tightening grip over Hong Kong.

Earlier this year, Hong Kong police arrested Mr Lai, accusing him of participating in an "Unauthorised assembly".