Hong Kong’s police chief shifted his mortgage to Bank of China (Hong Kong) from HSBC just days ahead of US sanctions
- The mortgage for the Pok Fu Lam flat was transferred from HSBC on August 4, three days before the US sanctioned Chris Tang Ping-keung and 10 others
- The US can sanction banks who engage in ‘significant’ transactions with individuals who impede the city’s autonomy
Hong Kong’s police chief, among 11 officials sanctioned by the United States government over China’s national security law for the city, shifted his mortgage from HSBC to Bank of China (Hong Kong) days before the US enacted its policy, according to public records.
Commissioner of Police Chris Tang Ping-keung transferred the mortgage for his 439-square foot (41-square metre) flat on August 4, three days before US sanctions were announced, according to the Land Registry’s records. He bought the flat at Chi Fu Fa Yuen in Pok Fu Lam in March 2017 for HK$6.25 million (US$806,000).
The flat is for the police chief’s “self-use, and the use of banking services is purely a personal consumer choice that is not related to any sanction,” the Hong Kong Police Force’s public relations branch said in response to inquiry by South China Morning Post.
US President Donald Trump signed the Hong Kong Autonomy Act into law last month, giving American regulators the ability to sanction non-US banks who engage in “significant” transactions with individuals who helped end the city’s “high degree of autonomy” from mainland China.
