Standard Chartered CEO says Hong Kong is ‘very, very secure’ as a banking heart

Bill Winters, chief govt officer of Standard Chartered, on the Asian Financial Forum 2020 in Hong Kong.

Kyle Lam | Bloomberg | Getty Images

SINGAPORE — Hong Kong’s place as international monetary heart stays “very, very secure” whilst town is caught up in escalating tensions between the U.S. and China, in response to Standard Chartered’s Chief Executive Bill Winters.

“The reality is Hong Kong is sitting right here because the gateway to China for capital into China and out of China. That’s solely grow to be extra clear,” Winters, who’s attending the digital Singapore Summit, advised CNBC’s “Street Signs Asia” on Wednesday.

Beijing earlier this yr enacted a controversial national security law in Hong Kong, a Chinese territory with extra freedom than mainland cities. The U.S. hit out on the transfer and sanctioned a number of people — including Hong Kong leader Carrie Lam — for undermining town’s autonomy.

Stanchart, a British financial institution that makes a lot of its earnings in Asia, said in June that it believes the nationwide safety legislation “can assist preserve the long run financial and social stability of Hong Kong.” Three months in, Winters mentioned that earlier hope for stability “appears to have been effectively based and is enjoying out.”  

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