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Banks struggle to navigate Hong Kong sanctions laws as US-China tensions escalate

By Jerome Taylor and Yan Zhao

International banks in Hong Kong are caught in the crossfire of competing laws enacted by the United States and China as the superpowers clash over the city’s future, with analysts warning businesses are being forced to pick a side.

Lawyers working for the lenders have been busy. Their clients have grown increasingly alarmed by two pieces of legislation that came into effect last month that could radically alter how they do business in the semi-autonomous city. 

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