Standard Chartered CEO states Hong Kong is ‘extremely, extremely safe’ as a banking center

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

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Bill Winters, ceo of Standard Chartered, at the Asian Financial Forum 2020 in Hong Kong.

Kyle Lam | Bloomberg | Getty Images

SINGAPORE — Hong Kong’s position as international monetary center stays “very, very safe” even as the city is captured up in intensifying stress in between the U.S. and China, according to Standard Chartered’s Chief Executive Bill Winters.

“The fact is Hong Kong is sitting here as the gateway to China for capital into China and out of China. That’s only become more clear,” Winters, who’s participating in the virtual Singapore Summit, informed CNBC’s “Street Signs Asia” on Wednesday.

Beijing previously this year enacted a questionable nationwide security law in Hong Kong, a Chinese area with more liberty than mainland cities. The U.S. struck out at the relocation and approved a number of people — consisting of Hong Kong leader Carrie Lam — for weakening the city’s autonomy.

Stanchart, a British bank that makes much of its revenues in Asia, stated in June that it thinks the nationwide security law “can help maintain the long term economic and social stability of Hong Kong.” Three months in, Winters stated that earlier wish for stability “seems to have been well founded and is playing out.”