[ad_1]
In an exclusive interview with the Hong Kong International Finance and Economy Channel, Lam Cheng Yuet-ngor said that although he was Hong Kong’s chief executive, he did not receive any banking services. Due to the US sanctions, no bank dared to open an account for him.
Carrie Lam said helplessly, “I use cash every day to buy everything, and there are lots of cash at home. The government pays me cash because I don’t have a bank account.”
Public information shows that the annual salary of the Hong Kong CEO in 2020/21 is HK $ 5.21 million, or HK $ 430,000 per month.
The news that Carrie Lam can only use cash after being sanctioned by the United States sparked a heated discussion online. One netizen ridiculed Carrie Lam on Twitter, “saying that the monthly salary of 400,000 Hong Kong newspapers has become a problem now.”
Another netizen said, “You deserve!” (She deserves it).
Another netizen said sarcastically: “Communist Party officials have a lot of cash in their homes.”
According to official CCP reports, corrupt CCP officials often hide large amounts of cash in their homes.
Some netizens also wondered if Carrie Lam was only looking towards the leadership of the Chinese Communist Party, and the Chinese Communist Party ordered her to crack down on protesters in Hong Kong. Why was it sanctioned by the United States and the Chinese Communist Party did not dare to help it? Why are Chinese banks in Hong Kong afraid to open an account for you?
Weibo netizens, “students who don’t want to be confused,” explained: “The United States controls the Global Bank Settlement Communication System (SWIFT). If a bank violates the US ban, it will be kicked out of the SWIFT system” and will not be able to manage international remittances. Branches in the United States and elsewhere may also face penalties. In other words, this will also involve Chinese banks.
The BBC report noted that SWIFT is a powerful tool for the United States to impose financial sanctions on a global scale, and the US dollar is absolutely dominant in world trade. If the United States is determined to sanction a country or institution, it can directly isolate the financial institution. The connection to the CHIPS US dollar cross-border settlement system makes it impossible to carry out transactions related to US dollars.
According to the report, once the United States announces sanctions on a person or institution, almost all international banks do not dare to do business with the sanctioned person, and Chinese banks are no exception. That is why no Chinese bank dared to open an account for Lam Cheng.
Some commentators say that Lin Zheng’s experience is certainly a warning to all officials who worked for the CCP. When the CCP instigated evil and repressed the people, it was sanctioned and punished.
At the end of June this year, the CCP enforced the National Security Law in Hong Kong, completely destroying both systems in one country. The United States imposed sanctions on 14 senior officials from China and Hong Kong, including Carrie Lam. The sanctions include banning entry into the United States, freezing assets in the United States, and all financial asset transactions that may involve the United States.
On October 14, the US State Department announced sanctions on 10 Chinese and Hong Kong officials, including: Hong Kong Executive Director Carrie Lam, Hong Kong National Security Committee Secretary General Chen Guoji, Hong Kong Attorney General Zheng Ruohua, Hong Kong Secretary of Security Li Jiachao, Hong Kong Liaison Office Director Luo Huining, Hong Kong Police Commissioner Deng Bingqiang, Director of Hong Kong Office of Constitutional and Continental Affairs, Zeng Guowei, Director of the Hong Kong and Macao Affairs Office of the Communist Party of China, Xia Baolong, Deputy Director of the Hong Kong and Macao Affairs Office, Zhang Xiaoming , and the director of the National Security Office of the Communist Party of China in Hong Kong, Zheng Yanxiong.
The US State Department also formally warned international financial institutions not to do business with people who suppress democratic activities in Hong Kong, otherwise they could soon be subject to secondary sanctions.
On November 9, the U.S. State Department and the Treasury Department imposed sanctions on four other CCP officials, including Deng Zhonghua, deputy director of the Hong Kong and Macao Affairs Office, Liu Cihui, deputy director of the police station in Hong Kong, and Li Jiangzhou, deputy director of the Central Government National Security Office in Hong Kong. Li Guihua, chief superintendent of the National Security Division of the Police Department.
US Secretary of State Pompeo said in a statement that Chinese and Hong Kong officials continue to undermine their commitment to Hong Kong’s autonomy and freedom and arrest Hong Kong people who dissent for political purposes. “These (sanctions) actions highlight the determination of the United States to hold key people accountable.”
(Full report by reporter Luo Tingting / Editor-in-chief: Fan Ming)
The URL of this article: https://www.ntdtv.com/gb/2020/11/29/a102997963.html
