China discusses protecting assets from U.S. sanctions with banks, Financial Times reports | #itsecurity | #infosec

A general view of Two International Finance Centre (IFC), HSBC headquarters and Bank of China in Hong Kong, China July 13, 2021. REUTERS/Tyrone Siu

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April 30 (Reuters) – Chinese regulators held an emergency meeting with domestic and foreign banks to discuss how they could protect China’s overseas assets from U.S.-led sanctions similar to those imposed on Russia after its invasion of Ukraine, The Financial Times reported, citing people familiar with the discussion.

The internal conference, held on April 22, included officials from China’s central bank and finance ministry and executives from local and international banks, the report said.

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Reporting by Sabahatjahan Contractor in Bengaluru; Editing by Chris Reese

Our Standards: The Thomson Reuters Trust Principles.

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