Standard Chartered CEO says Hong Kong is ‘very, very safe’ as a banking center

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Monthly bill Winters, chief executive officer of Normal Chartered, at the Asian Economical Forum 2020 in Hong Kong.

Kyle Lam | Bloomberg | Getty Images

SINGAPORE — Hong Kong’s placement as international fiscal center stays “extremely, quite protected” even as the town is caught up in escalating tensions between the U.S. and China, in accordance to Conventional Chartered’s Main Govt Bill Winters.

“The fact is Hong Kong is sitting right here as the gateway to China for cash into China and out of China. That’s only become more obvious,” Winters, who’s attending the digital Singapore Summit, explained to CNBC’s “Avenue Indications Asia” on Wednesday.

Beijing before this 12 months enacted a controversial countrywide security legislation in Hong Kong, a Chinese territory with more flexibility than mainland cities. The U.S. strike out at the go and sanctioned a number of individuals — which includes Hong Kong chief Carrie Lam — for undermining the city’s autonomy.

Stanchart, a British lender that makes significantly of its profits in Asia, said in June that it thinks the nationwide safety legislation “can assist preserve the extended phrase economic and social balance of Hong Kong.” A few months in, Winters said that previously hope for security “seems to have been perfectly started and is playing out.”