Finance

HSBC chief exec John Flint comes under fire after praising China's Communist regime


HSBC chief exec John Flint comes under fire after praising China’s Communist regime

HSBC boss John Flint claimed that China's economic system had 'served its people really well'

HSBC boss John Flint claimed that China’s economic system had ‘served its people really well’

HSBC’s boss faces fresh calls to apologise for praising the Communist regime in China.

Chief executive John Flint is under pressure after claiming last month that China’s economic system had ‘served its people really well’ – despite protests in Hong Kong and a crackdown on Muslims, which has seen thousands transferred to ‘re-education camps’.

In an interview with the Mail on Thursday, Joshua Wong – a leader of Hong Kong’s pro-democracy protests – criticised Flint.

Former work and pensions secretary Lord Hain called for the banker to apologise, or clarify his comments.

He said: ‘I’m flabbergasted at this apparently brazen apologia for the denial of freedom, human rights and democracy in the Chinese system.’ 

MP Mike Gapes, former chairman of the Foreign Affairs Select Committee, pointed out that China’s economic success is largely due to it being a part of the World Trade Organisation, a system established by liberal democracies.

Amid fears that China is trying to increase its hold on Hong Kong, Gapes added: ‘Leaders of major companies should defend the liberal democratic values on which the prosperity and stability of Hong Kong is based.’

  • HSBC is expected to stump up millions of pounds more in compensation to credit card customers who were overcharged when they fell behind on payments. The lender has written to a further 18,500 people, having already paid out £4million to 6,700 customers. It could now be on the hook for another £11million.

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