A credit union servicing current and retired Hong Kong police officers has been systematically shifting its fund to mainland banks since May amid concerns over US sanctions. Photo: Felix WongA credit union servicing current and retired Hong Kong police officers has been systematically shifting its fund to mainland banks since May amid concerns over US sanctions. Photo: Felix Wong
A credit union servicing current and retired Hong Kong police officers has been systematically shifting its fund to mainland banks since May amid concerns over US sanctions. Photo: Felix Wong

Hong Kong’s police credit union shifts billions in assets to mainland banks, citing exposure to US sanctions over national security law

  • Credit union tells members they have been ‘gradually withdrawing or relocating most of our assets and investments from foreign banks’ since May
  • Police chief Chris Tang and his predecessor, Stephen Lo, were among 11 local and mainland officials specifically targeted last week by economic sanctions

Topic |   Hong Kong national security law (NSL)
A credit union servicing current and retired Hong Kong police officers has been systematically shifting its fund to mainland banks since May amid concerns over US sanctions. Photo: Felix WongA credit union servicing current and retired Hong Kong police officers has been systematically shifting its fund to mainland banks since May amid concerns over US sanctions. Photo: Felix Wong
A credit union servicing current and retired Hong Kong police officers has been systematically shifting its fund to mainland banks since May amid concerns over US sanctions. Photo: Felix Wong
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