By 
The U.S. House of Representatives passed legislation on Wednesday that would penalize banks doing business with Chinese officials who implement Beijing’s draconian new national security law imposed on the former British colony of Hong Kong.
China responded by saying the United States should stop interfering in Hong Kong affairs and warned that it would “resolutely and forcefully resist”.
Hong Kong returned to Chinese rule in 1997 under a “one country, two systems” formula that protected its freedoms, including an independent legal system, and wide-ranging autonomy. But China on Tuesday introduced sweeping national security legislation for the city, condemned by the United States, Britain and other Western countries.
British Foreign Secretary Dominic Raab reprimanded HSBC (HSBA.L) and other banks on Wednesday for supporting the new law, saying the rights of Hong Kong should not be sacrificed for bankers’ bonuses.
Senior British and U.S. politicians criticized HSBC and Standard Chartered (STAN.L) last month after the banks backed the new law.
The law punishes crimes of secession, subversion, terrorism and collusion with foreign forces with up to life in prison, will see mainland security agencies in Hong Kong for the first time and allows extradition to the mainland for trial.
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