Tell bank executives to withdraw from Hong Kong’s Investment Summit

• Potential violations of US laws by engaging with US-sanctioned CE John Lee Ka-Chiu

• Tacit approval of brutal crackdowns on Hong Kong’s autonomy and freedom

• Implicit consent to Hong Kong being used to evade sanctions against Russia and Putin

• Be used as CCP propaganda

On September 29, 2022, the Hong Kong Monetary Authority (HKMA) announced the Global Financial Leaders' Investment Summit on November 2, 2022 - where senior executives from financial institutions including JPMorgan Chase, Citigroup, Goldman Sachs, Blackstone, and Morgan Stanley are scheduled to appear.

The summit will feature a keynote by Hong Kong's Chief Executive John Lee Ka-Chiu, who has been sanctioned by the US government for overseeing brutal crackdowns on pro-democracy protests and undermining Hong Kong's autonomy and basic freedom, and whose administration has refused to enforce sanctions from multiple jurisdictions against Russia.

LETTER TEXT: https://bit.ly/HKBankSummitLetter

SIGN-ON FORM: https://forms.gle/1kchEyEbYBj7P5AN9

The LETTER

We, the undersigned organizations and individuals, are writing to raise concerns about your participation at the upcoming "Global Financial Leaders' Investment Summit: Navigating Beyond Uncertainty" in Hong Kong on November 2, 2022.

We respectfully urge you to withdraw your participation in the summit.

The summit, hosted by the Hong Kong Monetary Authority (HKMA), will feature a keynote by Hong Kong's Chief Executive John Lee Ka-Chiu, who has been sanctioned by the US government and whose administration has refused to enforce sanctions from multiple jurisdictions against Russia.

Your participation will be seen and promoted as tacit approval of the ongoing brutal crackdown on Hong Kong's pro-democracy movement, civil society, independent press, and businesses, and implicit consent to the use of Hong Kong as a haven by individuals and entities evading sanctions.

Furthermore, your participation raises serious questions about potential violations of US laws under the Hong Kong Autonomy Act (Public Law No. 116-149), the Hong Kong Human Rights and Democracy Act (Public Law No. 116-76), the Hong Kong Policy Act (Public Law No. 102-383), and in pursuant to Executive Order (EO) 13936, "The President's Executive Order on Hong Kong Normalization," issued on July 14, 2020.

On August 7, 2020, the US Department of the Treasury imposed sanctions on 11 individuals, including then Secretary of Security John Lee Ka-Chiu, for undermining Hong Kong's autonomy and restricting the basic freedoms of Hong Kongers. 

As Hong Kong's security chief, Lee oversaw brutal police responses to pro-democracy protests. His unquestioning obedience to Beijing's drive to crush Hong Kong's pro-democracy movement paved the way for him to win an uncontested "election" in May of 2022 as the ruling Chinese Communist Party's candidate of choice as the city's Chief Executive. 

On August 20, 2020, HKMA, the host of the November summit, declared that "unilateral sanctions imposed by foreign governments" have no legal status in Hong Kong and that banks have no legal obligation to cooperate with US sanctions. It also warned financial institutions operating in Hong Kong to "carefully assess all risks involved and endeavour to treat customers fairly."

On July 16, 2021, the US Department of State, the US Department of the Treasury, the US Department of Commerce, and the US Department of Homeland Security, issued a business advisory to caution US businesses about emerging risks to their operations and activities in Hong Kong.

Specifically, the Hong Kong Business Advisory warned that "individuals and entities should be aware of potential consequences of certain types of engagement with sanctioned individuals or entities" and the "heightened risks for businesses with exposure to sanctioned Hong Kong or PRC entities or individuals, and for businesses that implement US sanctions."

Last week, the Nord -- a $500 million luxury vessel belonging to Russian billionaire Alexei Mordashov -- arrived in Hong Kong. Mordashov is among the oligarchs close to Russian President Vladimir Putin, who has been targeted by the US and international sanctions following Moscow's invasion of Ukraine.

This refusal to act was followed by reports that several major and state-owned Russian companies, shut out of financial capitals, are actively engaging Hong Kong law firms to help them relocate to a "friendlier jurisdiction" - positioning Hong Kong as an alternative haven for businesses sanctioned over the war in Ukraine.

On October 8, 2022, the US Department of State warned that "Hong Kong's reputation as a financial center depends on adherence to international laws and standards. The possible use of Hong Kong as a safe haven by individuals evading sanctions from multiple jurisdictions further calls into question the transparency of the business environment. Similarly, US companies increasingly view Hong Kong's business environment with wariness given the PRC's repressive actions undermining Hong Kong's high degree of autonomy and protected freedoms for people in Hong Kong."

On Tuesday at a press conference, Lee responded to questions about the potential of Hong Kong being used to evade international sanctions and US sanctions against him, "We will just laugh off the so-called sanctions."

Hong Kongers' basic freedom, human rights, and Ukraine's sovereignty and survival are no laughing matter.

To stand with Hong Kong and Ukraine means you must not stand alongside John Lee.

We urge you to withdraw your participation in the summit.

Sincerely,

YOUR NAME

YOUR ORGANIZATION